Related-party disclosures

There were no significant changes at June 30, 2021 to the related-party disclosures reported in the consolidated financial statements as of December 31, 2020:

Associate. In connection with the combination of the cell tower business in the Netherlands and the set-up of an infrastructure fund, the newly established, independently managed investment company Digital Infrastructure Vehicle II SICAF-RAIF (DIV) contributed the shares in T‑Mobile Infra B.V. previously acquired by T‑Mobile Netherlands into Cellnex Netherlands B.V. In return, DIV received a stake of 37.65 % in the “new” company Cellnex NL. Since then Cellnex NL has been included in the consolidated financial statements using the equity method. The transaction was consummated on June 1, 2021. Following the combination of the cell tower business in the Netherlands and the set-up of an infrastructure fund, T‑Mobile Netherlands continues to have access to the contributed passive mobile infrastructure under a sale-and-leaseback transaction with T‑Mobile Infra B.V. A long-term lease agreement at normal market conditions was concluded to this end.

For further information on the combination of the cell tower business in the Netherlands and the set-up of an infrastructure fund, please refer to the section “Changes in the composition of the Group and other transactions.”