Mr. Jeffrey Mouland reports

DIGITALBRIDGE, L&G AND TD ASSET MANAGEMENT INC. ACQUIRE VODAFONEZIGGO TOWERS TO CREATE INDEPENDENT EUROPEAN TOWER PLATFORM

DigitalBridge, together with L&G and TD Asset Management Inc., has agreed to acquire VodafoneZiggo's passive mobile tower infrastructure from Ziggo BV, a subsidiary of Ziggo Group. Subject to customary closing conditions (including regulatory approvals), the business will be acquired by DigitalBridge Strategic Asset Fund, L&G's digital infrastructure fund and TD Greystone Infrastructure Fund, and combined with Belgium Tower Partners, DigitalBridge's existing tower platform in Belgium.

Combining the businesses will create a new, independent tower platform across Belgium and the Netherlands, with more than 6,600 sites and a diversified customer base anchored by VodafoneZiggo and Telenet, alongside other leading mobile network operators.

The transaction would bring together two complementary businesses across established European telecom markets, creating greater scale and a stronger neutral-host platform positioned to support customers' long-term network requirements, including continued 5G deployment, densification and network expansion.

"The combination of VodafoneZiggo Towers and BTP represents an opportunity to create a scaled, high-quality tower platform across two attractive European markets," said Marc Ganzi, chief executive officer, DigitalBridge. "With strong anchor customers, a diversified portfolio and significant cross-border scale, the combined business will be well positioned to support the continued evolution of mobile networks across Belgium and the Netherlands."

"High-quality infrastructure will play a pivotal role in supporting communities and economic growth across Europe. As our fourth LDIF investment and first towers acquisition, this investment strengthens our continental footprint and delivers on our ambition to deliver both positive societal impact and long-term value for our investors," said Matteo Colombo, head of digital infrastructure investments, asset management, L&G.

"We are pleased to invest in this essential European infrastructure platform and to support long-term growth in Belgium and the Netherlands. This investment strengthens and diversifies our portfolio as global demand for digital infrastructure continues to expand and transform," said Jeffrey Mouland, managing director, head of global infrastructure investments, TDAM.

The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to close in early 2027.

The fund was advised by Loyens & Loeff, McCarthy Tetrault, KPMG, TD Securities, and Lockton.

We seek Safe Harbor.