Annex 3. Index of contents required by Law 11/2018

Brief description of the group's business model, which will include:
1. its business environment,
2. its organisation and structure,
3. the markets in which it operates,
4. its goals and strategies,
5. The main factors and trends that may affect its future evolution

Material

GRI 102-1
GRI 102-2
GRI 102-3
GRI 102-4
GRI 102-6
GRI 102-7
GRI 102-14

1. CELLNEX: European leader in telecommunications infrastructure / Business model
2. GOVERNANCE – Showing what we are, acting with integrity
   •  Corporate governance / Corporate governance
   •  Context and business development
   •  Business perspective
   •  Investors relationships / Market figures: Cellnex on the stock market
3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees

17-31
90-104
117-150
151-152
164-167

Reporting framework used

Material

GRI 102-54

This report has been prepared in accordance with the Essential option of the GRI Standards

Materiality

Material

GRI 102-46
GRI 102-47

1. CELLNEX: European leader in telecommunications infrastructure / Strategic vision / Materiality

51-53

A description of the policies that the group applies regarding these issues, which will include:
1.) due diligence procedures applied to the identification, evaluation, prevention and mitigation of significant risks and impacts
2.) verification and control procedures, including what measures have been taken

Material

GRI 103-2 regarding the management approach for each area within the Economic, Environmental and Social dimensions

2. GOVERNANCE – Showing what we are, acting with integrity/ Corporate governance
   •   Corporate governance
   •   Global Management System
      ◦    Risk Management
      ◦    Quality and certifications
   •  Context and business development / Sustained creation of value / Cellnex's tax contribution
   •  Investors relationships:
      ◦   Market figures: Cellnex on the Stock market / Shareholder remuneration
      ◦   Shareholders
3. PEOPLE – Boosting our talent, being diverse and inclusive
   •   Commitment to our employees
      ◦    People management / Work-life balance and flexibility
      ◦   Culture / Empowering our talent by being diverse and inclusive
   •   Work Health and safety
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach
   •   Responsible environmental management
   •   Sustainable use of resources / Energy management
   •  Carbon footprint and climate change
6. VALUE CHAIN – Extending our commitment to the value chain
   •  Customer / Information Security
   •  Suppliers / Cellnex Supply Chain and Engagement with suppliers

90-104
106-110
111-115
117-132
153-155
156
195
169-181
199-205
230-231
239-242
245-249
260-262
263-270

The main risks related to these issues related to the activities of the group, including, where relevant and proportionate, their business relationships, products or services that may have negative effects in those areas, and how the group manages these risks, explaining the procedures used to detect and evaluate them according to national, European or international reference frameworks for each subject. Information on the impacts that have been detected must be included, offering a breakdown of them, in particular on the main risks in the short, medium and long term.

Material

GRI 102-15

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Risk Management
4. SOCIETY – Being a facilitator of social progress / Cellnex Socioeconomic impact
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Management and follow up of main risks, opportunities and environmental impacts
8. Annexes / Annex 1. Risks

106-110
224-227
232-238
280-313

Detailed information on the current and foreseeable effects of the company's activities on the environment and, where appropriate, health and safety, environmental assessment or certification procedures.

Material

GRI 102-15

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Risk Management
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Management and follow up of main risks, opportunities and environmental impacts
8. Annexes / Annex 1. Risks

106-110
232-238
280-313

GRI 103-2

1. CELLNEX: European leader in telecommunications infrastructure / Present context / Exposure to electromagnetic fields
2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Quality and certifications
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Responsible environmental management

77-80
111-115
230-231

Resources dedicated to the prevention of environmental risks.

Material

GRI 102-15

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Risk Management
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Management and follow up of main risks, opportunities and environmental impacts
8. Annexes / Annex 1. Risks

106-110
232-238
280-313

The application of the precautionary principle, the amount of provisions and guarantees against environmental risks.

Material

GRI 102-11

Cellnex has environmental liability insurance in accordance with current legislation and a provision of 67,198 euros in 2021 (60,000 euros in 2020).
Note 20 of the Annual Consolidated Accounts
2. GOVERNANCE – Showing what we are, acting with integrity / Context and  business evolution / Sustained value creation / Cellnex's tax contribution
5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Management and follow up of main risks, opportunities and environmental impacts

132-133
232-238

Measures to prevent, reduce or repair carbon emissions that seriously affect the environment, taking into account any form of air pollution specific to an activity, including noise and light pollution.

Material

GRI 103-2
GRI 302-4
GRI 305-5

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach
   •  Responsible environmental management
   •  Sustainable use of resources
   •  Carbon footprint and climate change

230-231
239-244
245-249

Waste: Prevention, recycling, reuse, other forms of recovery and waste disposal.

Not material

GRI 306-2 (2020)

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Sustainable use of resources / Management of other resources
   •  Waste management
   •   Life Cycle Assessment (LCA) of Telecommunications Infrastructure Services (TIS)

243
243-244

Actions to fight food waste

Not material

-

Cellnex considers this matter as non-material

Water consumption and water supply according to local limitations

Not material

GRI 303-1 (2018)
GRI 303-2 (2018)
GRI 303-5 (2018)

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Sustainable use of resources / Management of other resources / Water consumption
Annex 6. KPI tables

242
350

Consumption of raw materials and the measures adopted to improve the efficiency of their use.

Not material

-

Cellnex considers this matter as non-material

Consumption, direct and indirect, of energy.

Material

GRI 302-1
GRI 302-2

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Sustainable use of resources / Energy management

Annex 6. KPI tables

239-242
345-346

Measures taken to improve energy efficiency.

Material

GRI 302-4

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Sustainable use of resources / Energy management

239-242

Use of renewable energies

Material

GRI 302-1

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Sustainable use of resources / Energy management

 239-242

The important elements of greenhouse gas emissions generated as a result of the company's activities, including the use of the goods and services it produces.

Material

GRI 305-1
GRI 305-2
GRI 305-3
GRI 305-4

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Carbon footprint and climate change
Annex 6. KPI tables

245-249
347-349

The measures adopted to adapt to the consequences of Climate Change.

Material

GRI 102-11
GRI 102-15

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Management and follow up of main risks, opportunities and environmental impacts

232-238

The reduction goals established voluntarily in the medium and long term to reduce greenhouse gas emissions and the means implemented for that purpose.

Material

GRI 305-5

5. ENVIRONMENT – Growing with a long-term sustainable environmental approach / Carbon footprint and climate change / Science-Based Targets (SBT) Initiative

248-249

The measures taken to preserve or restore biodiversity.

Not material

GRI 103-2

5. ENVIRONMENT – Grow with a long-term sustainable environmental approach / Biodiversity

250-253

Impacts caused by activities or operations in protected areas.

Not material

GRI 304-1
GRI 304-2

5. ENVIRONMENT – Grow with a long-term sustainable environmental approach / Biodiversity

250-253

Total number and distribution of employees by sex, age, country and professional category.

Material

GRI 102-8
GRI 405-1.b

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees
Annex 6. KPI tables

164-165
334-339

Total number and distribution of work contract modalities.

Material

GRI 102-8

Annex 6. KPI tables

334-339

Annual average of permanent, temporary and part-time contracts by sex, age and professional category

Material

GRI 102-8
GRI 405-1.b

Annex 6. KPI tables

334-339

Number of dismissals by sex, age and professional classification.

Material

GRI 401-1.b

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees
Annex 6. KPI tables

164-165
334-339

The average remunerations and their evolution disaggregated by sex, age and professional classification or equal value.

Material

GRI 405-2

Annex 6. KPI tables

340-341

Salary gap, the remuneration of equal or average positions in the company

Material

GRI 405-2

Annex 6. KPI tables

340-341

The average remuneration of directors and executives, including variable remuneration, allowances, compensation, payment to long term savings forecast systems and any other perception disaggregated by sex.

Material

GRI 102-35
GRI 102-36
GRI 102-37
GRI 102-38
GRI 102-39

Annual Report on Remuneration of the Directors of Cellnex Telecom 2021 (Annex 10)
Section C of the 2021 Annual Corporate Governance Report (Annex 11)
The ratio obtained from the calculation between the remuneration of the person who holds the position of CEO and the average remuneration of the Group is 88.59 in 2021 (in 2020 it was 65.85).
The variation in the average remuneration of the Group in relation to the year 2020 was -7,70% (-2.6% in the previous period) and the variation in the remuneration of the CEO was 23.8% (-21% in the previous period ). The changes correspond to the total remuneration accrued, excluding contributions to pension funds and life insurance premiums.

Implementation of labour disconnection measures.

Material

GRI 103-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Work-life balance and flexibility

195

Employees with disabilities

Material

GRI 405-1.b

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees

165

Organisation of working time

Material

GRI 103-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Work-life balance and flexibility

195

Number of hours of absenteeism.

Material

GRI 403-9 (2018)

3. PEOPLE – Boosting our talent, being diverse and inclusive / Work Health and safety / Accident rate and absenteeism
Annex 6. KPI tables

205
344

Measures designed to facilitate the enjoyment of conciliation and encourage joint responsibility of these by both parents

Material

GRI 103-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Work-life balance and flexibility

195

Conditions of health and safety at work.

Material

GRI 403-1 a GRI 403-8 (2018)

3. PEOPLE – Boosting our talent, being diverse and inclusive / Work Health and safety

199-205

Work accidents, in particular their frequency and seriousness, occupational diseases, disaggregated by sex.

Material

GRI 403-9 (2018)
GRI 403-10 (2018)

3. PEOPLE – Boosting our talent, being diverse and inclusive / Work Health and safety / Accident rate and absenteeism
Annex 6. KPI tables

205
343-344

Organisation of social dialogue, including procedures for informing and consulting staff and negotiating with them.

Material

GRI 402-1

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Social dialogue

197-198

Percentage of employees covered by collective agreement by country.

Material

GRI 102-41

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Collective agreements
Annex 6. KPI tables

196-197
337

Balance of collective agreements, particularly in the field of health and safety at work.

Material

GRI 403-1 (2018)
GRI 403-4 (2018)

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / People management / Collective agreements

196-197

The policies implemented in the field of training

Material

GRI 404-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / Talent / Training

194

The total amount of training hours by professional categories.

Material

GRI 404-1

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / Talent / Training
Annex 6. KPI tables

194
342

Universal accessibility for people with disabilities

Material

GRI 103-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees

165

Measures taken to promote equal treatment and opportunities between men and women.

Material

GRI 103-2

3. PEOPLE – Promoting our talent, being diverse and inclusive / Commitment to our employees / Culture / Empowering our talent by being diverse and inclusive / Equality Plan and Harassment and discrimination Protocol

180-181

Equality plans, measures adopted to promote employment, protocols against sexual and gender-based harassment, integration and the universal accessibility of people with disabilities.

Material

GRI 103-2

3. PEOPLE – Promoting our talent, being diverse and inclusive / Commitment to our employees / Culture /Empowering our talent by being diverse and inclusive / Equality Plan and Harassment and discrimination Protocol

180-181

The policy against all types of discrimination and, where appropriate, management of diversity

Material

GRI 103-2

3. PEOPLE – Boosting our talent, being diverse and inclusive / Commitment to our employees / Culture / Empowering our talent by being diverse and inclusive

169-181

Application of due diligence procedures in human rights. Prevention of the risks of violation of human rights and, where appropriate, measures to mitigate, manage and repair possible abuse

Material

GRI 102-16
GRI 102-17

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Cellnex's Commitment to Human Rights

115-116

Complaints about cases of violation of human rights.

Material

GRI 406-1

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Cellnex's Commitment to Human Rights

115-116

Promotion and compliance with the provisions of the fundamental Conventions of the International Labor Organisation related to respect for freedom of association and the right to collective bargaining, the elimination of discrimination in employment and occupation, the elimination of forced or compulsory labor and the effective abolition of child labor.

Material

GRI 408-1
GRI 409-1

2. GOVERNANCE – Showing what we are, acting with integrity / Global Management System/ Cellnex's Commitment to Human Rights
3. PEOPLE – Boosting our talent, being diverse and inclusive / Work Health and safety

115-116
199-205

Measures taken to prevent corruption and bribery.

Material

GRI 102-16
GRI 102-17
GRI 205-2

2. GOVERNANCE – Showing what we are, acting with integrity / Corporate governance / Ethics and regulatory compliance
6. VALUE CHAIN – Extending our commitment to the value chain
   •  Customers / Responsibility to the customer: focus and performance
   •  Suppliers / Cellnex Supply Chain and Engagement with suppliers
Annex 1. Risks

99-104
256-257
263-270
280-313

Measures to combat money laundering.

Material

GRI 205-3

2. GOVERNANCE – Showing what we are, acting with integrity / Corporate governance / Ethics and regulatory compliance

99-104

Contributions to foundations and non-profit entities.

Material

GRI 201-1
GRI 413-1

In 2021, the total contribution to sponsorship activities or events by Cellnex Telecom was €217,296 euros (€324,382 in 2020), the total contribution to associations of which Cellnex is a member was €799,523 (€355,283.18 in 2020) and the total of Donations was 2,692,660€.

The impact of society's activity on employment and local development.

Material

GRI 203-1
GRI 413-1

1. CELLNEX: European leader in telecommunications infrastructure
   •  Sustainable Development Goals
   •  Present context
   •  Innovation
4. SOCIETY – Being a facilitator of social progress / Cellnex Socioeconomic impact

68-71
72-80
81-87
224-227

The relationships maintained with the actors of the local communities and the modalities of dialogue with them

Material

GRI 102-43
GRI 413-1

1. CELLNEX: European leader in telecommunications infrastructure / Strategic vision
   •  ESG Master Plan
   •  Stakeholders
2. GOVERNANCE – Showing what we are, acting with integrity / Investor Relations
4. SOCIETY – Being a facilitator of social progress / Social contribution
   •  Commitment to society
   •  Cellnex collaboration with society
   •  Cellnex Foundation

54-58
59-67
153-161
208-214
214-215
215-223

The association or sponsorship actions.

Material

GRI 102-12
GRI 102-13

1. CELLNEX: European leader in telecommunications infrastructure / Strategic vision / Stakeholders
4. SOCIETY – Being a facilitator of social progress / Social contribution
   •  Commitment to society
   •  Cellnex collaboration with society
   •  Cellnex Foundation
In 2021, the total contribution to sponsorship activities or events by Cellnex Telecom was €217,296 euros (€324,382 in 2020), the total contribution to associations of which Cellnex is a member was €799,523 (€355,283.18 in 2020). The contribution to Tallon Boury & Associés has been €55.134.79 in 2021 (€71,625.36 in 2020), to Mayer Brown €21,000 (€21,000 in 2020), to Kauffman €63,000  (€128,000 in 2020), to Brunswick €112,000 (€98,659.79 in 2020), to Utopia €60,000 euros (€60,000 in 2020), to Hill+Knowlton Strategies €94,815.90 (€54,439.19 in 2020).

59-67
208-214
214-215
215-223

The inclusion in the purchasing policy of social issues, gender equality and environmental issues. Consideration in relations with suppliers and subcontractors of their social and environmental responsibility.

Not material

GRI 102-9
GRI 308-1
GRI 308-2
GRI 414-1
GRI 414-2

6. VALUE CHAIN – Extend our commitment to the value chain / Suppliers
   •  Cellnex Supply Chain and Engagement with suppliers
   •  Supplier evaluation, selection and monitoring

263-270
271

Supervision systems and audits and their results.

Not material

GRI 103-2

6. VALUE CHAIN – Extend our commitment to the value chain / Suppliers / Supplier evaluation, selection and monitoring

271

Measures for the health and safety of consumers.

Not material

GRI 103-2

6. VALUE CHAIN – Extend our commitment to the value chain / Customers
   •  Responsibility to customer: focus and performance
   •  Customer Service
   •  Customer Engagement
   •  Information Security

256-257
257-259
259-260
260-262

Claims systems, complaints received and resolution of them.

Material

GRI 103-2
GRI 418-1

6. VALUE CHAIN – Extend our commitment to the value chain / Customers
   •  Responsibility to customer: focus and performance
   •  Customer Service
   •  Customer Engagement
   •  Information Security

256-257
257-259
259-260
260-262

Benefits obtained country by country

Material

GRI 207-4 (2019)

2. GOVERNANCE – Showing what we are, acting with integrity
   •  Context and business development
   •  Business perspective

117-150
151-152

Taxes paid on benefits.

Material

GRI 207-1 (2019)

2. GOVERNANCE – Showing what we are, acting with integrity
   •  Context and business development
   •  Business perspective

117-150
151-152

GRI 207-4 (2019)

This information is provided in detail in the Consolidated Annual Accounts

Public subsidies received.

Material

GRI 201-4

No significant financial assistance has been received from the government.

The proportion of Taxonomy-eligible and Taxonomy non-eligible economic activities in the total turnover

Material

Regulation (EU) 2020/852 on Taxonomy Commission Delegated Regulation (EU) 2021/2178 supplementing Regulation (EU) 2020/852 on Taxonomy

2. GOVERNANCE – Showing what we are, acting with integrity / Context and business development / EU Taxonomy
Annex 7. EU Taxonomy

134-147
356-360

The proportion of Taxonomy-eligible and Taxonomy non-eligible economic activities in the total investments in fixed assets (CapEx)

Material

2. GOVERNANCE – Showing what we are, acting with integrity / Context and business development / EU Taxonomy
Annex 7. EU Taxonomy

134-147
356-360

The proportion of Taxonomy-eligible and Taxonomy non-eligible economic activities in the operating expenses (OpEx)

Not material

-

-

Breakdown of qualitative information for the indicators described above understanding

Material

Commission Delegated Regulation (EU) 2021/2178 supplementing Regulation (EU) 2020/852 on Taxonomy - Annex 1.2

2. GOVERNANCE – Showing what we are, acting with integrity / Context and business development / EU Taxonomy
Annex 7. EU Taxonomy

134-147
356-360