<SEC-DOCUMENT>0001104659-24-050081.txt : 20240422
<SEC-HEADER>0001104659-24-050081.hdr.sgml : 20240422
<ACCEPTANCE-DATETIME>20240422172122
ACCESSION NUMBER:		0001104659-24-050081
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240422
DATE AS OF CHANGE:		20240422

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CROWN CASTLE INC.
		CENTRAL INDEX KEY:			0001051470
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				760470458
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16441
		FILM NUMBER:		24862080

	BUSINESS ADDRESS:	
		STREET 1:		8020 KATY FREEWAY
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		7135703000

	MAIL ADDRESS:	
		STREET 1:		8020 KATY FREEWAY
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROWN CASTLE INTERNATIONAL CORP
		DATE OF NAME CHANGE:	19971215

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Boots Parallel 1, LP
		CENTRAL INDEX KEY:			0002001389
		ORGANIZATION NAME:           	
		IRS NUMBER:				934267119
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		4M MANAGEMENT PARTNERS, LLC
		STREET 2:		7800 WASHINGTON AVE, SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77007
		BUSINESS PHONE:		(713) 974-9049

	MAIL ADDRESS:	
		STREET 1:		4M MANAGEMENT PARTNERS, LLC
		STREET 2:		7800 WASHINGTON AVE, SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77007
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Rule 14a-101)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)
of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed
by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 5pt; text-underline-color: #000000"><FONT STYLE="font-size: 10pt">Check the appropriate box:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="padding-bottom: 5pt; text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material Pursuant to &sect;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Crown Castle Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified in Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BOOTS PARALLEL 1, LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BOOTS, LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BOOTS GP, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BOOTS CAPITAL MANAGEMENT, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">4M MANAGEMENT PARTNERS, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">4M INVESTMENTS, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WRCB, L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CHARLES CAMPBELL GREEN III</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DAVID P. WHEELER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THEODORE B. MILLER, JR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TRIPP H. RICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-underline-color: #000000"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-underline-color: #000000; text-align: justify"><FONT STYLE="font-size: 10pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boots Capital Management, LLC (&ldquo;Boots Capital&rdquo;),
together with the other Participants named herein (&ldquo;Boots&rdquo;), have filed a definitive proxy statement and accompanying GOLD
universal proxy card with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) to be used to solicit proxies for, among other
matters, the election of their slate of director nominees at the 2024 annual meeting of stockholders (the &ldquo;2024 Annual Meeting&rdquo;)
of Crown Castle Inc., a Delaware corporation (&ldquo;Crown Castle&rdquo; or the &ldquo;Corporation&rdquo;).&nbsp; From time to time, Crown
Castle and the other participants named herein may refer shareholders of the Corporation to such materials reproduced herein, recent articles
or other materials. Certain of the materials disclosed herein may be reproduced on the Boots Capital campaign website at www.RebootCrownCastle.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 22, 2024, Theodore B. Miller, Jr., on
behalf of Boots Capital and together with the other Participants named herein, issued a press release relating to the Corporation, a copy
of which is set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BOOTS CAPITAL HIGHLIGHTS CROWN CASTLE&rsquo;S
SIGNIFICANT DESTRUCTION OF SHAREHOLDER VALUE AND FAILED OPERATIONAL STRATEGY DUE TO INEFFECTIVE LEADERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Urges Shareholders to Vote the GOLD Proxy Card
&ldquo;FOR&rdquo; Boots Capital&rsquo;s Four Highly Qualified Director Nominees &ndash; Ted Miller, Charles Green, David Wheeler, and
Tripp Rice &ndash; and &ldquo;WITHHOLD&rdquo; on ALL Crown Castle Nominees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Files Definitive Proxy Materials and Mails Letter
to Crown Castle Shareholders</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Launches www.RebootCrownCastle.com</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>HOUSTON &ndash; APRIL 22, 2024 &ndash;</B>
Ted B. Miller, co-founder and former Executive Chairman &amp; Chief Executive Officer of Crown Castle Inc., (NYSE: CCI) (&ldquo;Crown
Castle&rdquo; or the &ldquo;Company&rdquo;) and his investment vehicle Boots Capital Management, LLC (&ldquo;Boots Capital&rdquo;) today
filed definitive proxy materials with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) for the election of Ted B. Miller, Charles
C. Green, David P. Wheeler, and Tripp H. Rice to Crown Castle&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) at the Company&rsquo;s
2024 Annual Meeting of Shareholders (the &ldquo;2024 Annual Meeting&rdquo;) to be held on May 22, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the filing of definitive proxy
materials, Boots Capital is mailing a letter to Crown Castle&rsquo;s shareholders and launched www.RebootCrownCastle.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The full text of the letter being mailed is below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 22, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To Crown Castle Shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You deserve better. For more than a decade, you
and all Crown Castle shareholders have suffered at the hands of a Board that made the wrong decision every time it mattered most. The
Board&rsquo;s poor judgment has cost shareholders tens of billions of dollars in value, left you with a debt-fueled dividend policy, and
corroded employee morale and broader stakeholder trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a fellow shareholder in Crown Castle Inc.,
Ted B. Miller, the Company&rsquo;s co-founder and former Executive Chairman &amp; Chief Executive Officer and his investment vehicle,
Boots Capital Management, LLC (&ldquo;Boots Capital&rdquo;), are deeply concerned about the future of the Company and believe that <B>shareholders
deserve better stewards of their capital. </B>Crown Castle&rsquo;s Board has not provided meaningful insights regarding next steps and
has shown resistance to engaging substantively with us. It&rsquo;s finally time to bring this lost decade to a close, and to take action
to restore the value of your investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The facts speak plainly and loudly. Look at the
chart below, which compares Crown Castle Total Shareholder Return (TSR) relative to the overall market and its two primary tower-company
competitors &ndash; American Tower Corp. and SBA Communications Corp. Crown Castle has performed significantly worse than these direct
peers and the overall market over each of the 10-, 7-, 5-, 3-, 2- and 1-year periods ending December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Table 1: Total Shareholder Returns (TSR)</U></B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black"><SUP>1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt; width: 30%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Actual TSR Performance</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 11%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1-Year</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 11%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2-Year</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 12%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>3-Year</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 12%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5-Year</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 12%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7-year</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 12%; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10-Year</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">CCI</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-10%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-39%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-18%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">28%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">73%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">127%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">AMT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">5%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-22%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">4%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">53%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">139%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">234%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">SBAC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-8%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-33%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-7%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">63%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">156%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">194%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">S&amp;P 500</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">24%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.08%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">27%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">90%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">113%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">158%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CCI&rsquo;s Relative TSR Performance</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1-Year</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2-Year</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>3-Year</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5-Year</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7-year</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10-Year</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">AMT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-292%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-82%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-542%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-47%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-47%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-46%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">SBAC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-26%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-19%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-153%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-56%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-53%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-34%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">S&amp;P 500</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-142%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-51,630%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-168%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-69%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-35%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-underline-color: #000000; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: red">-19%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unsurprisingly, Crown Castle&rsquo;s TSR has lagged
its two tower peers for the tenures of all of its legacy directors. <B>Once again, the table below tells the story. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Table 2: Total Shareholder Returns (TSR) of Directors</U></B><FONT STYLE="color: black"><SUP>2</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; padding: 4pt; width: 42%; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Directors</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(167,202,238); width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tenure</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; background-color: rgb(167,202,238); padding: 4pt; width: 19%; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CCI&rsquo;s Relative TSR Performance to AMT</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; background-color: rgb(167,202,238); width: 20%; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CCI&rsquo;s Relative TSR Performance to SBAC</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P. Robert Bartolo (2014)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-44 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: bottom; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-28 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cindy Christy (2007)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.7 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-43 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: bottom; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-53 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ari Q. Fitzgerald (2002)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.7 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-35 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: bottom; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-54 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrea J. Goldsmith (2018)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-56 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: bottom; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-37 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthony J. Melone (2015)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.9 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-46 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: bottom; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-28 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding: 4pt; text-underline-color: black; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020 Directors (including Tammy K. Jones, Matthew Thornton, III, Kevin A. Stephens)<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4 years</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 4pt; text-underline-color: black; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-542 %</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-153 %</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; vertical-align: top; text-underline-color: black"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin T. Kabat (2023)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7 years</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; border-left: Black 1pt solid; padding: 4pt; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-36 %</FONT></TD>
    <TD STYLE="border: Black 1pt solid; padding: 4pt; text-underline-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">-21%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-indent: -5.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In Crown Castle&rsquo;s own preliminary proxy
statement, dated April 4, 2024, the Board states <I>&ldquo;[we] acknowledge that our stockholder returns have been disappointing and not
what we or our investors expect from the Company.&rdquo;</I> This moment of candor was struck from the Company&rsquo;s definitive proxy
statement filed on April 11, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>
As used throughout, &ldquo;direct peers&rdquo; refers to&nbsp;<I>AMT</I>&nbsp;and&nbsp;<I>SBAC</I>, identified by the Company as competitors
in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 23, 2024. S&amp;P 500 refers
to the S&amp;P 500 Index (SPX-SPX). Source: FactSet. Data as of December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black"><SUP>2</SUP></FONT> Source: FactSet. Data
as of December 31, 2023, and beginning on the day the respective director joined the Board, unless otherwise stated.</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><SUP>3</SUP> Source: FactSet. Tammy K. Jones and Matthew Thornton,
III joined the Board on November 6, 2020. Kevin A Stephens joined the Board on December 1, 2020. Data for the 2020 directors are as of
December 31, 2023, and beginning on December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>A TRACK RECORD OF FAILED STEWARDSHIP, CORPORATE
GOVERNANCE, AND EXECUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The decision to file our proxy solicitation was
only made after considering the feedback and views of many large institutional shareholders. Apart from overwhelming frustration with
Crown Castle&rsquo;s performance, shareholders have expressed uncertainty regarding the Company&rsquo;s continued stewardship, corporate
governance, and execution. Consider the following areas:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B><U>Lack of relevant skillsets</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until just a few months ago, not one independent
director on the Board had tower company operating experience. Now, the closest they come to meeting this criterion is one independent
director that served as CFO of a tower company. Only one independent director has even been a public-company CEO. And that was for a bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The current Board&rsquo;s lack of tower company
experience has exacerbated the impact of its failed management and operational strategy. It was easy to mask such shortcomings during
a period of low interest rates, as tower companies delivered yield when there was precious little available to investors. But with rates
much higher, the stresses for REIT management teams are also higher. Crown Castle still must deliver the dividend checks on time, but
it has less investor rope to allocate capital as poorly as it has. It needs <I>operators and doers</I> &ndash; at both the executive and
Board level &ndash; to make Crown Castle a more efficient and valuable company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boots Capital&rsquo;s four nominees bring expertise
where Crown Castle&rsquo;s board is weakest: The tower-industry itself. Our nominees founded this company and this industry, and have
over 50 years of direct experience in towers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B><U>Failure of strategic oversight</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Crown Castle&rsquo;s directors have presided over
a 12-year misallocation of approximately $22 billion of investor capital. <B>By the Company&rsquo;s own numbers, fiber investments have
produced cash yield on invested capital of 7.3%, while its own weighted-average cost of capital is 7.8%.<FONT STYLE="color: black"><SUP>4</SUP></FONT></B>
The Board spent this money without making return-on-investment criteria part of how executives were compensated. The opportunity costs
of these decisions are immense: Today, the Company&rsquo;s shares are worth approximately $41 billion, and according to our work, the
value of the fiber assets has shrunk by approximately $10 billion. Moreover, while Crown Castle was divesting its international assets,
American Tower entered the international market and has since increased its market cap to approximately $80 billion, about twice that
of Crown Castle today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>3.</B></TD><TD STYLE="text-align: justify"><B><U>Excessive executive turnover and leadership turmoil</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board has failed in <B>one of its most essential
governance duties</B>: Overseeing a stable change in important leadership roles. Since acquiring the fiber assets, more than a dozen senior
executives across the Company&rsquo;s fiber acquisitions have resigned, and within the last three years the two EVP/COO leading the Company&rsquo;s
tower segment departed. In October 2023, the Company announced the departure of its Chief Financial Officer followed by the sudden retirement
of the Company&rsquo;s CEO, Jay A. Brown at the end of 2023. The CFO was re-hired in 2024. Additionally, on April 11 and in the midst
of a proxy contest, it was announced that the VP of Investor Relations, Chris Hickman, resigned and took a job with another tower company.
The Board also oversaw the shutdown of the Company&rsquo;s 1,000+ employee Canonsburg, Pennsylvania campus, only to reverse its decision
less than two months later.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe this turmoil has affected overall employee
morale and productivity. We have spoken to more than a dozen current and former employees who say they have lost faith in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Signs of operational dysfunction are rife:
Most recently, the Company took the extreme decision of taking to trial one of its most important customers &ndash; Dish Wireless &ndash;
over how Dish allegedly made use of three extra feet of space on tower sites. The final insult came when the jury found against Crown
Castle. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Given the high turnover and long-standing instability,
the appointment of Stephen Moskowitz as full-time CEO marks a step in the right direction. However, Mr. Moskowitz&rsquo;s presence alone
is not enough to overcome the issues facing Crown Castle, as demonstrated by the fact that the Company continues to pay both the prior
CEO and prior interim CEO as consultants. And on its April 17 earnings call, it cited &ldquo;consultants&rdquo; &ndash; not the Board
&ndash; as identifying potential operational improvements to fiber. Notably, there was no mention of identifying such potential operational
improvements to the tower sector. We believe our team&rsquo;s experience and plan are the missing pieces, without which Mr. Moskowitz
is not set up for success at this pivotal inflection point.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>4</SUP> Source for weighted-average cost
of capital: FactSet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>4.</B></TD><TD STYLE="text-align: justify"><B><U>Lack of accountability</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is inadequate accountability for directors
on the Crown Castle Board, most notably those who have presided over a decade-plus of miserable performance by the Company, its investments,
and its stock price. This same Board rewarded its two most recent CEOs, W. Benjamin Moreland and Jay Brown, total compensation of $76.7
million and $101.2 million<FONT STYLE="color: black"><SUP>5</SUP></FONT> during their respective senior-management tenures with no return
on capital performance thresholds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with Elliott&rsquo;s first campaign
in 2020, the Company appointed three new directors while facing pressure to institute ROIC-pegged compensation and a strategic review
of fiber &ndash; <B>neither of those things happened</B>. The Company&rsquo;s performance continued to deteriorate, as demonstrated by
the Company&rsquo;s TSR since then &ndash; negative 542% compared to AMT and negative 153% compared to SBAC. Nonetheless, these directors,
as well as many of the directors that oversaw a decade-plus of value destruction, remain on the Board today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These are symptoms of an entitled and unaccountable
culture. We thus believe it is time to replace three of the Company&rsquo;s longest serving directors &ndash; Ari Fitzgerald, 21+ years;
Cindy Christy, 16+ years; and P. Robert Bartolo, 10+ years &ndash; as these &ldquo;Legacy Directors&rdquo; have demonstrated they cannot
be trusted to drive the Company forward in the best interest of all shareholders. Further, we think it is in the best interest of shareholders
to replace Kevin T. Kabat with a member of the Boots team who brings far greater and more relevant tower company operating experience.
Mr. Kabat served as the CEO of a bank. We have two nominees on the Boots team, one of whom served as the Founder and CEO of a public <I>tower
</I>company and the other served as the Founder and CEO of a notable private <I>tower</I> company. The remaining Board directors along
with our nominees will create the accountability this Board has needed for the last decade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>5.</B></TD><TD STYLE="text-align: justify"><B><U>Entrenchment</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The incumbent Board has not observed basic shareholder
protections. In December 2023, to ward off a second potential proxy fight from Elliott, the Board hastily agreed in three weeks to an
entrenching &ldquo;cooperation agreement&rdquo; in which the directors handed over essential shareholder rights, including fixing the
size of the Board, in exchange for Elliott supporting the Company&rsquo;s directors at the annual meeting. Shortly after we challenged
this deal in Delaware court, the Company and Elliott <I>twice </I>amended and eliminated certain provisions of the cooperation agreement,
after the Delaware Chancery Court suggested they may be coercive to shareholders&rsquo; rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Entering into this agreement with Elliott &ndash;
prior to the Company&rsquo;s window for other shareholders to submit nominations &ndash; calls into question whether the Board puts the
security of its seats ahead of its responsibility to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The closing stock price of Crown Castle on December
19, 2023, the day the Company entered into the cooperation agreement with Elliott, was $113.99. The closing stock price on April 19, 2023,
was down to $95.20.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>6.</B></TD><TD STYLE="text-align: justify"><B><U>Refusing to engage constructively to resolve the proxy contest</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While and after presenting our proposal to the
Board and its advisors, we received limited questions, mostly from the Company&rsquo;s advisors. Since that time, the Board has failed
to meaningfully engage with us, and has not requested to review the diligence materials that informed our plan, including the sale of
fiber and potential tax benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Furthermore, after we made our initial nomination
submissions on a confidential basis to the Board, the Board interviewed each of our nominees. We believe that these interviews were effectively
a pretense. They were structured as two 30-minute interviews of two nominees at the same time. Their conclusion to reject all of our nominees
on the basis of lack of &ldquo;expertise and experience&rdquo; did not seem like a good faith judgment, given the unrivaled tower industry
backgrounds of our nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>5</SUP> Source: CCI Proxy Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Then, in a March 8 hearing, the Delaware Chancery
Court requested Crown Castle&rsquo;s Board give notice to Boots if there were to be any major corporate developments</B><SUP>6</SUP><B>.
</B>We believe shareholders would find this to be highly important information, but the Company never disclosed it. Crown Castle has still
never informed shareholders of the court&rsquo;s direction, nor did it respect the Chancery Court&rsquo;s instruction in our view when
expanding the Board to 13 members later in April, during the critical, late-stages of a proxy contest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board&rsquo;s lack of disclosure and entrenchment
behavior carried through to the supposed &ldquo;fresh look&rdquo; review period offered to the Boots nominees by Crown Castle&rsquo;s
Board pursuant to the ongoing litigation. In mid-March, Mr. Miller flew to meet Board chairman Rob Bartolo at a Peet&rsquo;s Coffee shop
near Mr. Bartolo&rsquo;s home. <B>There, Mr. Miller proposed significant concessions to end the proxy fight, including eliminating Executive
Chairman from our proposal. Notably, the Company continued to highlight this point in its latest press release, with full knowledge that
we have revised our proposal.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, it soon became clear that the Board was
not interested in engaging in good faith: On March 24, Mr. Bartolo sent Mr. Miller an email at 11:49 pm agreeing to schedule another meeting.
Before the sun had even risen in Houston the following morning, Crown Castle had filed its preliminary proxy that heavily criticized Boots,
retained its original recommendation against our nominees, and incorrectly questioned our recital of the facts. It appears that the Company
never disclosed the notice obligation or the &ldquo;fresh look&rdquo; because it never intended to comply with either.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><B>7.</B></TD><TD STYLE="text-align: justify"><B><U>False Statements about the Boots Proposal</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even though the Board has not engaged with us
to review the diligence materials underlying our proposal, the Company recently issued a press release questioning two components of our
plan 1) the number of buyers and financing sources who took part in our process and 2) the legitimacy of possible tax benefits we have
highlighted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are 25 prospective buyers and financing
sources who signed our NDA. This includes 3 strategic acquirors, 14 infrastructure/private equity firms and 8 financing sources. These
buyers and financing sources represent blue chip, highly qualified market participants capable of executing a $10+ billion carve-out transaction.
We told this to the Board directly in our meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These entities are not precluded from working
with the Company. They are precluded from disclosing the nature of their relationship with Boots. Therefore, the Company is in no position
to allege that these buyers and financing sources have not reached out to them as a result of these restrictions. Moreover, it is plausible
that these parties have not reached out to the Company because they do not believe in the existing Board&rsquo;s conviction or ability
to execute a fiber sale. This consideration is likely a component of what led these buyers and financing sources to engage with us and
not the Company in the first place. We have offered to sign a separate NDA with the Company so we could begin the process of gaining the
relevant permissions in order for us to share all of this information with the Board. <B>But the Company has refused to take this step.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As with any large transaction, developing an effective
tax strategy is complicated, but crucial to obtaining the best possible outcome. We have extensively analyzed the proposed transaction
and developed various alternatives to address the significant tax issues the Company will face upon a sale of the fiber business. We presented
the results of our work to the Board, yet the Board had very few questions about the tax considerations of our plan or about the contents
of our plan generally. The Company&rsquo;s overly simplistic response that &ldquo;Crown Castle, being a REIT, is exempt from paying taxes
as long as it distributes its taxable income to shareholders each year&rdquo; demonstrates a lack of care and determination on the part
of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reflexively falling back upon the ability to make
extraordinary distributions to shareholders (which are fully taxable to them) rather than developing viable strategies that allow proceeds
to be used to repay debt, fund stock repurchases and/or reinvest in the Company&rsquo;s core business (without tax to either the Company
or its shareholders) certainly does not reflect how other publicly traded REITs (or any well-managed businesses) operate. Boots has identified
a number of alternative approaches to manage the taxable income associated with a sale of the fiber business and has offered on more than
one occasion to discuss those strategies. Those alternative strategies are not limited to a transaction that closes in 2024 and Boots
has never recommended moving forward with &ldquo;reckless urgency&rdquo; as the Company alleges; instead, Boots has developed a number
of alternatives that allow the Company to move forward with appropriate urgency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>6</SUP> See Transcript of Oral Argument
at 91:15-24, 92:1, Delaware Action (Mar. 8, 2024). (&ldquo;. . . what I don&rsquo;t want to have happen is to have something unfixable
or unalterable suddenly being announced as an after-the-fact thing, without the plaintiff having at least some notice &ndash; and my
instinct would be five business days &ndash; so that if [Plaintiffs] believe that there is some reason why this would dramatically upset
the status quo and later the proxy contest and could be viewed as some form of interference with voting rights in its own right, that
they would have an opportunity to come and challenge it.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our philosophy has been to engage however we can
to help the Company. That is why we had our tax advisors in attendance during our January 30 meeting with the Board, subsequently offered
to facilitate a meeting between the Company&rsquo;s tax advisors and our tax advisors and offered to share the full extent of our findings
pursuant to a confidentiality agreement between the parties. A response to this request never came. The facts show this Board would rather
ignore a significant value opportunity for the Company and issue press releases inaccurately calling our analysis into question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BOOTS CAPITAL</B>&rsquo;<B>S NOMINEES HAVE A
CLEAR, DETAILED, AND ACTIONABLE PLAN TO TURN CROWN CASTLE</B>&rsquo;<B>S BUSINESS AROUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Boots nominees have been analyzing and preparing
a plan for Crown Castle since August 2023. We reached out directly to Crown Castle management five times before we even received a response.
And to this day, the Company has willfully ignored our offer to share months of detailed analysis around fiber divestment, likely buyers,
and resetting the Company&rsquo;s overall capital expenditure profile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In short, the Board has not put forth a comprehensive
plan, and yet it remains arrogant enough to publicly criticize our plan while privately refusing to engage with our materials in earnest,
such that it could act with an informed opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fiber review committee has been in place since
December, yet no comprehensive plan has been put forward for shareholders. Even after producing its definitive proxy statement, Crown
Castle has left shareholders with open questions as to the future of the fiber asset. Part of what we originally proposed was to contribute
our work to the Company to speed up its review. Instead, we have been rebuffed and shareholders have paid the price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In fact, the Company&rsquo;s recent disclosures
proudly boast of the financial analysis conducted by its advisors &ndash; the same work we completed, aided by a major, internationally
recognized consulting firm, and offered to share with the Company four months ago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have spent considerable resources over the
last eight months to build a detailed, comprehensive strategic plan to solve Crown Castle&rsquo;s crisis. Our strategic plan to enhance
shareholder value and improve operations has three core tenets:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Accelerate the Sale of Crown Castle&rsquo;s
Fiber Business:</B> We go only where the facts take us and what shareholders have indicated they would like to see happen. And right now,
the facts show that a separation of Crown Castle&rsquo;s fiber unit &ndash; including its small cells assets &ndash; is essential for
our intended value-creating path. These business lines are projected by the Company to chew through an additional $1.4 billion in capital
in 2024. If historical performance is any indicator, this CapEx will also struggle to exceed the Company&rsquo;s cost of capital.<BR>
<BR>
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Putting these businesses in the right
hands allows Crown Castle to be a pure-play tower company whose comparable peers trade for 25 times EBITDA, compared to the Company&rsquo;s
current multiple of 18 times. Rather than heed this urgent and justifiable warning, the Board has instead decided to gamble with even
more shareholder chips by delaying and criticizing our plan instead of taking action. Two investment banks are now performing their costly
and redundant work rather than leveraging the work we had already done. All the while, time is of the essence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Reboot Crown Castle as a Pure-Play Tower Company:</B>
The Company needs well-rounded knowledgeable industry veterans who not only understand operations and finance but have the ability to
be strategic and innovative. It&rsquo;s time to get back to basics and run the Company with a real entrepreneurial and operational mindset.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">That means becoming more efficient
and aligning the ratio of employees to towers to meet or exceed industry benchmarks. It also means utilizing new technologies to digitize
the asset base and automate workflows so that the same information is being shared across the enterprise requiring fewer resources and
saving time and money. And it means rewriting incentive plans &ndash; as Mr. Miller did at Crown Castle and as Chairman of the Compensation
Committee at publicly-traded Affiliated Computer Services Inc. to provide clear goals and rewards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Revamp and Stabilize Crown Castle Leadership:</B>
Adding our nominees fills the Board&rsquo;s current void of industry-specific experience, and further imbues it with energy, accountability
and entrepreneurship. We seek to end the &lsquo;brain drain&rsquo; of executive departures and improve employee morale (just read one
employee website &ndash; www.thelayoff.com/crown-castle-international -- to get a flavor for the decay of culture and morale). Our nominees
have the necessary industry connections to help support and fill key positions at the Company as needed to kick-start the rebuild of the
Company and its culture. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will argue that there have already
been recent changes to the Crown Castle Board. But what is needed is not just new Board members &ndash; the Company needs the right Board
members with the deep experience to fix both Crown Castle and the issues it faces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BOOTS CAPITAL</B>&rsquo;<B>S NOMINEES HAVE DEEP
TOWERS EXPERIENCE, ENTREPRENEURIAL ENERGY, AND LEADERSHIP CREDIBILITY NECESSARY TO REBOOT CROWN CASTLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our nominees have over 50 combined years of leadership
in the towers space.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information about our nominees&rsquo;
experience and credentials, please visit <B>www.RebootCrownCastle.com</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Our nominees have
the experience, knowledge, and credible plan to change this Company for the better following a decade of marked underperformance with
no accountability from leadership. Now is the moment to have your voice heard and to protect your investment. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WE URGE YOU TO VOTE &ldquo;FOR&rdquo; ON THE
<U>GOLD</U> PROXY CARD TODAY IN SUPPORT OF OUR FOUR HIGHLY-QUALIFIED NOMINEES</B></P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><BR>
We are asking for your support to help us create long-term, sustainable value at Crown Castle. We urge you to protect the value of your
investment and vote the&nbsp;<B><U>GOLD</U></B>&nbsp;proxy card today. With your vote, we will be one step closer to ensuring Crown Castle
is on a better path to creating lasting shareholder value.</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Please vote &ldquo;FOR&rdquo;
Boots Capital&rsquo;s Nominees on the <U>GOLD</U>&nbsp;proxy card TODAY.</B></P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">You can
vote by Internet or by signing and dating the&nbsp;enclosed&nbsp;<B><U>GOLD</U></B>&nbsp;proxy card or&nbsp;<B><U>GOLD</U></B>&nbsp;voting
instruction form and mailing it in the postage paid envelope provided. We urge you NOT to vote using any white proxy card or voting instruction
form you receive from Crown Castle. Please discard the white proxy card.</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="color: #373737">If
you have any questions about how to vote your shares, please contact our proxy solicitor, Morrow Sodali, by telephone 1-800-662-5200 or
203-658-9400 or email at </FONT><B>Boots@info.morrowsodali.com</B><FONT STYLE="color: #373737">. </FONT></P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We thank you for your support.</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Sincerely,</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 25%; text-underline-color: black; text-indent: 0"><FONT STYLE="font-size: 10pt; color: #373737">Ted Miller</FONT></TD>
    <TD STYLE="padding: 0; width: 25%; text-underline-color: black; text-indent: 0"><FONT STYLE="font-size: 10pt; color: #373737">Chuck Green</FONT></TD>
    <TD STYLE="padding: 0; width: 25%; text-underline-color: black; text-indent: 0"><FONT STYLE="font-size: 10pt; color: #373737">David Wheeler</FONT></TD>
    <TD STYLE="padding: 0; width: 25%; text-underline-color: black; text-indent: 0"><FONT STYLE="font-size: 10pt; color: #373737">Tripp Rice</FONT></TD></TR>
  </TABLE>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>INVESTOR AND MEDIA CONTACTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Morrow Sodali LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Paul Schulman/William Dooley/Jonathan Eyl</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By Phone: 1-800-662-5200 or 203-658-9400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By Email: Boots@info.morrowsodali.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Media:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jonathan Gasthalter/Nathaniel Garnick/Grace Cartwright</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gasthalter &amp; Co.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By Phone: 212-257-4170</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">By Email: bootscapital@gasthalter.com</P>

<P STYLE="color: #373737; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #373737; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #373737; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information herein contains &ldquo;forward-looking
statements.&rdquo; Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or
current facts and include, without limitation, words such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expects,&rdquo; &ldquo;believes,&rdquo;
&ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;estimates,&rdquo; &ldquo;projects,&rdquo; &ldquo;potential,&rdquo; &ldquo;targets,&rdquo;
&ldquo;forecasts,&rdquo; &ldquo;seeks,&rdquo; &ldquo;could,&rdquo; &ldquo;should&rdquo; or the negative of such terms or other variations
on such terms or comparable terminology. Similarly, statements that describe the Participants&rsquo; (as defined below) objectives, plans
or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be
no assurance that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize,
or if the underlying assumptions of Boots Capital (as defined below) or any of the other Participants in the proxy solicitation described
herein prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking
statements should not be regarded as a representation by Boots Capital or the other Participants that the future plans, estimates or expectations
contemplated will ever be achieved. You should not rely upon forward-looking statements as a prediction of actual results and actual results
may vary materially from what is expressed in or indicated by the forward-looking statements. Except to the extent required by applicable
law, neither Boots Capital nor any Participant will undertake and specifically declines any obligation to disclose the results of any
revisions that may be made to any projected results or forward-looking statements herein to reflect events or circumstances after the
date of such projected results or statements or to reflect the occurrence of anticipated or unanticipated events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain statements and information included herein
have been sourced from third parties. Boots Capital and the other Participants do not make any representations regarding the accuracy,
completeness or timeliness of such third party statements or information. Except as may be expressly set forth herein, permission to cite
such statements or information has neither been sought nor obtained from such third parties. Any such statements or information should
not be viewed as an indication of support from such third parties for the views expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CERTAIN INFORMATION CONCERNING THE PARTICIPANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The participants in the proxy solicitation are
Boots Parallel 1, LP, Boots, LP, Boots Capital Management, LLC (&ldquo;Boots Capital&rdquo;), Boots GP, LLC, 4M Management Partners, LLC,
4M Investments, LLC, WRCB, L.P., Theodore B. Miller, Jr. and Tripp H. Rice (collectively, the &ldquo;Boots Parties&rdquo;); and Charles
Campbell Green III and David P. Wheeler (together with Mr. Miller and Mr. Rice, the &ldquo;Boots Nominees,&rdquo; and together with the
Boots Parties, the &ldquo;Participants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boots Capital and the other Participants have
filed a definitive proxy statement and accompanying GOLD proxy card (the &ldquo;Definitive Proxy Statement&rdquo;) with the Securities
and Exchange Commission (the &ldquo;SEC&rdquo;) on April 22, 2024 to be used to solicit proxies for, among other matters, the election
of its slate of director nominees at the 2024 annual meeting of stockholders of Crown Castle Inc., a Delaware corporation (&ldquo;Crown
Castle&rdquo; or the &ldquo;Corporation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IMPORTANT INFORMATION AND WHERE TO FIND IT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BOOTS CAPITAL STRONGLY ADVISES ALL STOCKHOLDERS
OF CROWN CASTLE TO READ THE DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS TO SUCH DEFINITIVE PROXY STATEMENT, AND OTHER PROXY
MATERIALS FILED BY BOOTS CAPITAL AS THEY CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS ARE AVAILABLE AT NO CHARGE ON THE SEC&rsquo;S
WEBSITE AT WWW.SEC.GOV AND AT BOOTS CAPITAL&rsquo;S WEBSITE AT WWW.REBOOTCROWNCASTLE.COM. THE DEFINITIVE PROXY STATEMENT AND ACCOMPANYING
PROXY CARD WILL BE FURNISHED TO SOME OR ALL OF THE CORPORATION&rsquo;S STOCKHOLDERS. STOCKHOLDERS MAY ALSO DIRECT A REQUEST TO THE PARTICIPANTS&rsquo;
PROXY SOLICITOR, MORROW SODALI LLC, 430 PARK AVE., 14TH FLOOR, NEW YORK, NEW YORK 10022 (STOCKHOLDERS CAN CALL TOLL-FREE: (800) 662-5200).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information about the Participants and a description
of their direct or indirect interests by security holdings or otherwise can be found in the Definitive Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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