SBAC: Material agreement · New financial obligation

Item 1.01 Entry Into a Material Definitive Agreement On November 6, 2026 (the “Closing Date”), SBA Communications Corporation (the “Company”) entered into a Term Loan Credit Agreement, dated as of November 6, 2026 (the “Term Loan Credit Agreement”), among the Company, as borrower, the several lenders from time to time party thereto, Wells Fargo Bank, National Association, as administrative agent, and Citibank, N.A., as syndication agent. The Term Loan Credit Agreement provides for senior unsecured term loans in an aggregate principal amount of $2.0 billion, consisting of (1) $1.165 billion of initial term loans (the “Initial Term Loans”), which were funded in full in a single drawing on the Closing Date, and (2) $835.0 million of delayed draw term loan commitments (the loans thereunder, the “Delayed Draw Term Loans” and, together with the Initial Term Loans, the “Term Loans”). The Delayed Draw Term Loans may be borrowed in up to three drawings during the period from the Closing Date through May 6, 2027, after which any unfunded delayed draw commitments will automatically terminate. Once funded, the Delayed Draw Term Loans will constitute part of the same class as the Initial Term Loans. Amounts borrowed under the Term Loan Credit Agreement and subsequently repaid or prepaid may not be reborrowed. The Term Loans do not amortize and will mature on November 6, 2029, subject to the Company’s ability to request that the lenders extend the maturity date with respect to all or a portion of their Term Loans. The Term Loans will accrue interest, at the Company’s election, at either (1) term SOFR plus a margin that ranges from 0.750% to 1.375% or (2) a base rate plus a margin that ranges from 0% to 0.375%, in each case based on the Company’s senior unsecured debt ratings from S&P