<SEC-DOCUMENT>0000950142-24-001259.txt : 20240503
<SEC-HEADER>0000950142-24-001259.hdr.sgml : 20240503
<ACCEPTANCE-DATETIME>20240503073655
ACCESSION NUMBER:		0000950142-24-001259
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240503
DATE AS OF CHANGE:		20240503

FILER:

	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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16441
		FILM NUMBER:		24910804

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>eh240477383_defa14a.htm
<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

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

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

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

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Amendment No.&nbsp; )</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by the Registrant&nbsp; <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by a Party other than the Registrant&nbsp; <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

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    <TD STYLE="width: 5%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Segoe UI Symbol,sans-serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><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><FONT STYLE="font-family: Segoe UI Symbol,sans-serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Segoe UI Symbol,sans-serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Segoe UI Symbol,sans-serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Soliciting Material Pursuant to &sect;240.14a-12</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="border-bottom: black 1pt solid; width: 100%; text-align: center"><FONT STYLE="font-size: 12pt"><B>Crown Castle Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Payment of Filing Fee (Check all boxes that apply):</P>

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

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></TD>
    <TD STYLE="width: 95%">No fee required</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD>Fee paid previously with preliminary materials</TD></TR>
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    <TD><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD>Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Crown
Castle Files Investor Presentation Highlighting Clear</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Strategic
Plan and Refreshed, Experienced Board to Drive Shareholder Value Creation</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>The
Company&rsquo;s Board, alongside newly appointed CEO Steven Moskowitz, is taking action to improve performance, unlock value within the
fiber and small cell business, and create a stronger and more valuable Crown Castle </I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Ted
Miller&rsquo;s demands to take de facto control of the Company, along with three of his friends and family, put shareholders&rsquo; investment
in Crown Castle at risk</I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Shareholders
urged to vote the <B><U>WHITE</U></B> proxy card or voting instruction form for ALL of Crown Castle&rsquo;s highly qualified and diverse
director nominees</I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>HOUSTON,
TX &ndash; MAY 3, 2024</B>&nbsp;&ndash; Crown Castle Inc. (NYSE: CCI) (&ldquo;Crown Castle&rdquo; or the &ldquo;Company&rdquo;) today
announced that it has posted an investor presentation in connection with its 2024 Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;)
scheduled for May 22, 2024. Shareholders of record as of the close of business on March 28, 2024, are entitled to vote at the Annual
Meeting. The presentation is available at <FONT STYLE="color: #0563C1"><U>VoteCrownCastle.com</U></FONT>.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Crown Castle Board of Directors issued the following statement:</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;The
Crown Castle Board and management team are taking decisive actions to drive sustainable and robust shareholder value creation. We have
appointed Steven Moskowitz as our new CEO, who is a proven executive with extensive expertise in the tower industry, and we made substantial
progress on a Board-led strategic and operating review of the Company's fiber and small cell business. As a result of these strategic
steps, we are creating a stronger, more valuable Crown Castle.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;We
are confident this is the right Board to oversee Crown Castle and the execution of its strategy. Our director nominees are highly qualified
with valuable experience to help Crown Castle maximize shareholder value. In addition, four of our nominees, who bring leadership, financial,
and tower industry expertise, have been appointed in the past year, reflecting Crown Castle&rsquo;s proactive refreshment process.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;We
believe Ted Miller&rsquo;s top priority is to regain control of Crown Castle and its Board &ndash; and his continued self-serving antics
are more likely to jeopardize the clear progress underway than constructively contribute to it. Mr. Miller has repeatedly demonstrated
that he is not aligned with the interests of all shareholders. In stark contrast, we are confident our current Board is best positioned
to deliver on our objectives and enhance value for shareholders.&rdquo;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Highlights of
the presentation include:</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Crown
                                            Castle is taking comprehensive actions to maximize shareholder value.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Board is successfully executing a clear plan of transformative value-enhancing initiatives
                                            to maximize the value present in the Company&rsquo;s best-in-class assets and business model.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">As
                                            part of these steps to reposition Crown Castle for greater shareholder value creation, the
                                            Board has:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#167;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Appointed
                                            tower industry veteran Steven Moskowitz as CEO, following a robust search process.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#167;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Made
                                            significant progress on its comprehensive strategic and operating review of the fiber and
                                            small cell business, including most recently engaging with multiple parties who have expressed
                                            interest in a potential transaction.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&#167;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Strengthened
                                            the boardroom by adding seven of our 11 current independent directors since 2020, all of
                                            whom have extensive experience and skillsets relevant to overseeing the Company&rsquo;s strategy.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">With
                                            its new CEO and a clear plan underway to drive value, Crown Castle is well positioned to
                                            further deliver for its shareholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Our
                                            refreshed, diverse and highly qualified Board of Directors is the right steward to oversee
                                            the Company&rsquo;s strategy.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Board has placed an emphasis on continuing to bring to the boardroom new perspectives and
                                            skills that will further its goal to drive value.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            eight new directors appointed since 2020 collectively bring deep expertise across the telecom,
                                            towers, and fiber industries, as well as meaningful experience as both C-Suite executives
                                            and investment professionals &ndash; including a valuable shareholder viewpoint.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            current Crown Castle Board has an average tenure of 5.7 years and is 54% diverse in terms
                                            of gender and ethnicity, underscoring the Board&rsquo;s thoughtful approach to refreshment.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
                                            its work, the Board seeks to uphold high standards of corporate governance and has consistently
                                            welcomed shareholder perspectives and concerns. In the past year alone, the Company has actively
                                            engaged with investors representing over 50% of total shares outstanding.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Board has and will continue to implement actionable ideas where feasible and advance the
                                            shared goal of enhanced value creation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Mr.
                                            Miller&rsquo;s demands jeopardize the significant progress and value creation already underway
                                            at Crown Castle.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Mr.
                                            Miller appears set on installing himself on the Board as Executive Chair, or Chair in some
                                            capacity, along with his son-in-law and two of his friends. The Board believes that these
                                            individuals, who were thoroughly interviewed and evaluated by Crown Castle&rsquo;s Nominating,
                                            Environmental, Social and Governance Committee, do not possess any experience or skillsets
                                            that would be additive to the Board, and instead would take the place of four of the Company&rsquo;s
                                            highly qualified current directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Mr.
                                            Miller appears to be seeking control of Crown Castle, yet every near term, critical action
                                            in Mr. Miller&rsquo;s plan is already under consideration by the Board. Mr. Miller has been
                                            away from the tower business for over 22 years and is seeking to have himself, his family
                                            and friends represent over one-third of the Board&rsquo;s independent directors (despite
                                            owning only 0.18% of the Company&rsquo;s shares).</FONT></TD></TR>
</TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Under
                                            Mr. Miller&rsquo;s leadership over two decades ago, Crown Castle&rsquo;s total shareholder
                                            return declined by 83% and the Company&rsquo;s stock price was approximately $1.00 per share
                                            on the date of the announcement of his departure from the Board.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At
                                            every turn of the Board&rsquo;s engagement with Mr. Miller, he has displayed what the Board
                                            believes are inconsistent and hostile actions that demonstrate a clear lack of alignment
                                            with shareholders and do not represent shareholders&rsquo; best interests.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Crown Castle
Board of Directors is committed to acting in the best interests of shareholders and unanimously recommends that shareholders vote the
<B><U>WHITE</U></B> proxy card or voting instruction form &ldquo;FOR&rdquo; ONLY Crown Castle&rsquo;s 12 highly qualified directors standing
for election at the Annual Meeting: P. Robert Bartolo,&nbsp;Cindy Christy,&nbsp;Ari Q. Fitzgerald,&nbsp;Jason Genrich,&nbsp;Andrea J.
Goldsmith,&nbsp;Tammy K. Jones,&nbsp;Kevin T. Kabat,&nbsp;Anthony J. Melone,&nbsp;Sunit S. Patel,&nbsp;Bradley E. Singer,&nbsp;Kevin
A. Stephens&nbsp;and&nbsp;Matthew Thornton, III.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If
you have any questions or require any assistance with voting your shares, please call the Company&rsquo;s proxy solicitor:</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>INNISFREE
M&amp;A INCORPORATED<BR>
at<BR>
(877) 717-3904 (toll-free from&nbsp;the United States&nbsp;and&nbsp;Canada)<BR>
or<BR>
+1 (412) 232-3651 (from other locations).</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Advisors</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Morgan Stanley
is serving as financial advisor, and Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP is serving as legal counsel, to the Company.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>ABOUT&nbsp;CROWN
CASTLE</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Crown Castle&nbsp;owns,
operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions
across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential
data, technology and wireless service &ndash; bringing information, ideas and innovations to the people and businesses that need them.
For more information on&nbsp;Crown Castle, please visit&nbsp;<FONT STYLE="color: #0563C1"><U>www.crowncastle.com</U></FONT>.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CAUTIONARY
LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This press release
contains forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995.
Statements that are not historical facts are hereby identified as forward-looking statements. In addition, words such as &ldquo;estimate,&rdquo;
&ldquo;anticipate,&rdquo; &ldquo;project,&rdquo; &ldquo;plan,&rdquo; &ldquo;intend,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo;
&ldquo;likely,&rdquo; &ldquo;predicted,&rdquo; &ldquo;positioned,&rdquo; &ldquo;continue,&rdquo; &ldquo;target,&rdquo; &ldquo;seek,&rdquo;
&ldquo;focus&rdquo; and any variations of these words and similar expressions are intended to identify forward-looking statements. Examples
of forward-looking statements include (1) statements and expectations</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">regarding the process and outcomes of Company&rsquo;s Fiber Review
Committee, including that it will help enhance and unlock shareholder value, (2) that the actions set forth in this press release best
position the Company for long term success, including our Board&rsquo;s evaluation of all paths to enhance shareholder value, (3) that
the Company will benefit from the experience and insights of the directors and the new CEO, and (4) that the Company will identify the
best path forward to capitalize on significant opportunities for growth. Such forward-looking statements should, therefore, be considered
in light of various risks, uncertainties and assumptions, including prevailing market conditions, risk factors described in &ldquo;Item
1A. Risk Factors&rdquo; of the Annual Report on Form 10-K for the fiscal year ended&nbsp;December 31, 2023&nbsp;and other factors. Should
one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially
from those expected. Unless legally required, the Company undertakes no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Our filings with
the&nbsp;SEC&nbsp;are available through the&nbsp;SEC&nbsp;website at&nbsp;<FONT STYLE="color: #0563C1"><U>www.sec.gov</U></FONT>&nbsp;or
through our investor relations website at&nbsp;<FONT STYLE="color: #0563C1"><U>investor.crowncastle.com</U></FONT>. We use our investor
relations website to disclose information about us that may be deemed to be material. We encourage investors, the media and others interested
in us to visit our investor relations website from time to time to review up-to-date information or to sign up for e-mail alerts to be
notified when new or updated information is posted on the site.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Important
Stockholder Information</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Company filed
a definitive proxy statement and a&nbsp;<B><U>WHITE</U></B>&nbsp;proxy card on April 11, 2024, as well as a proxy supplement and revised
<B><U>WHITE</U></B> proxy card on April 22, 2024, with the SEC in connection with its solicitation of proxies for its 2024 Annual Meeting.
THE COMPANY&rsquo;S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT AND THE PROXY SUPPLEMENT, THE ACCOMPANYING
REVISED <B><U>WHITE</U></B> PROXY CARD, AND ANY AMENDMENTS AND SUPPLEMENTS TO THESE DOCUMENTS WHEN THEY BECOME AVAILABLE, AS THEY CONTAIN
IMPORTANT INFORMATION. Stockholders may obtain the proxy statement and the proxy supplement, any amendments or supplements to these documents,
and other documents as and when filed by the Company with the&nbsp;SEC&nbsp;without charge from the SEC&rsquo;s website at&nbsp;<FONT STYLE="color: #0563C1"><U>www.sec.gov</U></FONT>.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Participant
Information</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Company,
its directors, director nominees, certain of its officers, and other employees are or will be &ldquo;participants&rdquo; (as defined
in Section 14(a) of the&nbsp;U.S.&nbsp;Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company&rsquo;s
stockholders in connection with the matters to be considered at the 2024 Annual Meeting. The identity, their direct or indirect interests
(by security holdings or otherwise), and other information relating to the participants is available in the Company&rsquo;s definitive
proxy statement on Schedule 14A filed with the&nbsp;SEC&nbsp;on&nbsp;April 11, 2024, in the section entitled &ldquo;Beneficial Ownership
of Common Stock&rdquo; (on page 90) and Appendix C (on page&nbsp;C-1). To the extent the holdings by the &ldquo;participants&rdquo; in
the solicitation reported in the Company&rsquo;s definitive proxy statement have changed, such changes have been or will be reflected
on &ldquo;Statements of Change in Ownership&rdquo; on Forms 3, 4 or 5 filed with the SEC (where applicable). All these documents are
or will be available free of charge at the SEC&rsquo;s website at&nbsp;<FONT STYLE="color: #0563C1"><U>www.sec.gov</U></FONT>.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CONTACTS</B>:</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dan Schlanger,
CFO<BR>
Kris Hinson, VP &amp; Treasurer<BR>
Crown Castle Inc.<BR>
713-570-3050</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>MEDIA</B>:</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Andy Brimmer&nbsp;/&nbsp;Adam
Pollack<BR>
Joele Frank,&nbsp;Wilkinson Brimmer Katcher<BR>
212-355-4449</FONT></P>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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