Millicom International Cellular S.A. (NASDAQ:TIGO) Q3 2021 Earnings Conference Call October 28, 2021 8:00 AM ET Company Participants Sarah Inmon - Investor Relations Mauricio Ramos - Chief Executive Officer Tim Pennington - Chief Financial Officer Conference Call Participants Soomit Datta - New Street Advisors Marcelo Santos - JP Morgan Diego Aragao - Goldman Sachs Stefan Billing - Kepler Cheuvreux Sarah Inmon [Foreign Language] Good morning, and good afternoon everyone, and welcome to Millicom's Third Quar ...

Analyst & investor presentation Q3 2021 results visscor 28 October 2021 Introduction Louis Schmid, IR 1. Highlights Urs Schaeppi, CEO 2. Business review Urs Schaeppi, CEO 3. Financial results Eugen Stermetz, CFO Questions & answers all Agenda Appendix 2 � 1 Highlights 3 1 Highlights | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------- ...

Millicom International Cellular S.A. (NASDAQ:TIGO) Q2 2021 Earnings Conference Call July 29, 2021 8:00 AM ET Company Participants Michel Morin – Head-Strategy and Investor Relations Mauricio Ramos – Chief Executive Officer Tim Pennington – Chief Financial Officer Conference Call Participants Marcelo Santos – JPMorgan Stefan Gauffin – DNB Vitor Tomita – Goldman Sachs Mathieu Robilliard – Barclays Soomit Datta – New Street Research Fredrik Lithell – Danske Bank Stefan Billing – Kepler Cheuvreux Michel Morin H ...

Financial Data and Key Metrics Changes - Q1 2021 was a strong quarter with record net additions in both Cable and Mobile, surpassing pre-COVID levels across almost all KPIs [9][10][16] - Service revenue grew 2% organically in Q1, with March showing a growth of 5.6%, indicating strong revenue momentum [17][18] - EBITDA for LatAm reached $638 million, up $38 million year-on-year, with an EBITDA margin of 41.7%, the highest recorded [49] Business Line Data and Key Metrics Changes - The Cable business added 166,000 customers in Q1, a record high, with a total of almost 450,000 new Cable customers added during the pandemic [19][20] - Mobile business saw an addition of 1.1 million customers in Q1, marking the strongest Q1 in net adds in the past decade [26] - B2B segment is recovering, with a growth in SME customers, ending Q1 with 10,000 more SME customers than pre-COVID [35] Market Data and Key Metrics Changes - Every country in the region showed positive service revenue growth rates in Q1, with Guatemala and El Salvador posting particularly strong results [29][47] - Colombia's Home business grew more than 7.5%, the fastest growth rate in over five years, driven by strong network investments [47] - Bolivia is showing signs of recovery with strong net adds in both Mobile and Home segments, attributed to more rational pricing from state-owned Intel [90] Company Strategy and Development Direction - The company is focused solely on Latin America after selling its last operations in Africa, reallocating capital to strengthen its position in the region [8] - A network-centric strategy is emphasized, with continued investments in infrastructure to support long-term growth [37][110] - The company aims to deliver at least $1.4 billion in operating cash flow while maintaining flexibility for further investments [59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the worst economic impacts of the pandemic are behind, with a stronger business performance than pre-COVID [40] - The outlook for growth is positive, with expectations for sustained revenue momentum in Q2 and beyond [66] - The company is prepared to invest more to capture growth opportunities as they arise [65] Other Important Information - The company has made significant investments in its networks, spending $1 billion on CapEx in 2020, which has contributed to its competitive advantage [38] - The company has improved its collection processes, resulting in lower bad debt charges, which are expected to continue [94][96] Q&A Session Summary Question: Outlook on service revenue growth targets - Management acknowledged a strong start to the year but emphasized a cautious approach to medium-term targets, focusing on sustainable long-term growth [61][68] Question: Impact of new competitor in Colombia - The new entrant's launch had limited impact on operations, with the company well-prepared to compete through its new network and marketing strategies [71][76] Question: Competitive updates in Paraguay and Bolivia - Paraguay is stabilizing with positive net adds, while Bolivia is showing improved performance due to rational pricing from competitors [84][90] Question: Impact of lower bad debt - The company reported a significant reduction in bad debt charges, attributed to improved collection processes and customer commitment [93][94] Question: Mobile Financial Services and M&A focus - The company is building its FinTech platform and is currently focused on organic growth rather than pursuing M&A opportunities [99][104] Question: Strategic endeavors for the next few years - The strategic focus remains on growing the core business, enhancing broadband demand, and building infrastructure and FinTech platforms [108][110]

As filed with the Securities and Exchange Commission on March 10, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition peri ...

| --- | --- | --- | |---------------------------------------------------------------|-------|-------| | | | | | | | | | Resilient cash flow and customer growth Fourth Quarter 2020 | | | | Mauricio Ramos, CEO Tim Pennington, CFO February 11 th , 2021 | | | | Millicom International Cellular S.A. | | | Safe Harbor Cautionary Language Concerning Forward-Looking Statements Statements included herein that are not historical facts, including without limitation statements concerning future strategy, plans, objectiv ...

Financial Data and Key Metrics Changes - The company reported a solid operating cash flow of $1.5 billion, exceeding the target of $1.4 billion, which reflects a strong recovery from the pandemic [12][25][33] - Service revenue and EBITDA were essentially flat year-on-year in Q4, indicating a significant recovery from the low point in Q2 [10][22] - The company reduced net debt by $0.5 billion during the year, demonstrating effective cash flow management [13][34] Business Line Data and Key Metrics Changes - In mobile, the company added a record 2.3 million users in Q4, with a total of 1.9 million users added for the full year, marking a 5% year-on-year increase [9][10] - Cable business saw strong growth with 277,000 new home customers added for the year, including 103,000 in Q4, indicating resilience during the pandemic [9][10] - The pay TV customer base grew at mid-single-digit rates, ending the year with 4.5 million customers [9] Market Data and Key Metrics Changes - Colombia experienced record net adds of over 875,000 mobile users in Q4, contributing to a total of 42 million mobile users in Latin America [9][10] - El Salvador showed a 9% year-on-year growth in Q4, while Guatemala reported a 6.6% increase, driven by strong mobile performance [28][29] - Panama faced economic challenges with a 20% GDP decline in 2020, but the consumer business remained resilient [52] Company Strategy and Development Direction - The company aims to continue its organic growth strategy, focusing on network-centric and convergence-driven services to enhance customer experience [37][38] - Investment in broadband infrastructure is prioritized, with plans to expand 4G coverage to nearly 80% of the population in key markets [44][39] - The company is committed to reducing net debt and investing in long-term growth rather than resuming dividends or buybacks [39] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2021, acknowledging ongoing uncertainties due to the pandemic and potential economic impacts [38][44] - The company plans to maintain a flexible and prudent management approach, similar to its successful strategy in 2020 [38][59] - There is a recognition of the growing demand for broadband services, which will drive future investments [39] Other Important Information - The company achieved significant improvements in customer satisfaction, with NPS scores increasing by 13% year-on-year [15] - The company launched initiatives to support communities during the pandemic, including lifeline services and educational programs [16][18] Q&A Session Summary Question: Outlook for 2021 and operating cash flow target - Management acknowledged the cautious tone due to uncertainties but emphasized a strong underlying business performance and the importance of maintaining investment flexibility [42][43] Question: Performance in Guatemala and Colombia - Management expressed confidence in continued growth in both markets, highlighting strong mobile net adds and improved network capabilities [47][49] Question: Macroeconomic impacts post-pandemic - Management noted that while GDP projections are optimistic, they remain cautious about the pace of recovery and consumer challenges [57][59] Question: El Salvador's performance and bad debt management - Management credited improved management and network investments for El Salvador's turnaround, while also indicating that bad debt levels are expected to normalize [63][67]

| --- | --- | --- | |--------------------------------------------|-------|-------| | | | | | | | | | Getting Back on Track Third Quarter 2020 | | | | | | | | Mauricio Ramos, CEO | | | | Tim Pennington, CFO October 30 th , 2020 | | | | Millicom International Cellular S.A. | | | Safe Harbor Cautionary Language Concerning Forward-Looking Statements Statements included herein that are not historical facts, including without limitation statements concerning future strategy, plans, objectives, expectations and in ...

As filed with the Securities and Exchange Commission on February 28, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: ...

As filed with the Securities and Exchange Commission on February 28, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition p ...