The excitation spectrum and the collective modes of graphene antidot lattices (GALs) are studied in the context of a π-band tight-binding model. The dynamical polarizability and dielectric function are calculated within the random-phase approximation. The effect of different kinds of disorder, such as geometric and chemical disorder, are included in our calculations. We highlight the main differences of GALs with respect to single-layer graphene (SLG). Our results show that, in addition to the well-understood bulk plasmon in doped samples, interband plasmons appear in GALs. We further show that the static screening properties of undoped and doped GALs quantitatively differ from SLG.