As filed with the Securities and Exchange Commission on March 1, 2022 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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition perio ...

[Report of Foreign Private Issuer (Form 6-K)](index=1&type=section&id=Form%206-K%20Report) This report details the outcomes of Millicom's Extraordinary General Meeting, including an authorized capital increase, and provides an overview of the company's telecommunications operations [Extraordinary General Meeting (EGM) Outcome](index=3&type=section&id=Extraordinary%20General%20Meeting%20Outcome) Shareholders approved all proposed resolutions at the EGM on February 28, 2022, primarily increasing authorized share capital - All resolutions proposed by the Board of Directors were approved at the EGM held on February 28, 2022[6](index=6&type=chunk) [Increase in Authorized Share Capital](index=3&type=section&id=Increase%20in%20Authorized%20Share%20Capital) The EGM approved increasing the company's authorized share capital from $200 million to $300 million, amending Article 5 of the articles of association Change in Authorized Share Capital | Metric | Previous | New | | :--- | :--- | :--- | | **Authorized Share Capital** | USD 199,999,800 | USD 300,000,000 | | **Number of Shares** | 133,333,200 | 200,000,000 | | **Par Value per Share** | USD 1.50 | USD 1.50 | - As a result of the capital increase, Article 5, paragraphs 1 and 4 of Millicom's articles of association were amended[7](index=7&type=chunk) - The Board of Directors issued a special report concerning the increase in authorized share capital in accordance with Luxembourg's law on commercial companies[7](index=7&type=chunk) [Company Overview](index=3&type=section&id=Company%20Overview) Millicom is a leading telecommunications provider in Latin America and Africa, serving 58 million mobile customers and over 12 million homes with fiber-cable networks - Millicom provides a wide range of digital services including TIGO Money (mobile financial services), TIGO Sports (local entertainment), and TIGO ONEtv (pay TV), alongside high-speed data, voice, and business solutions[9](index=9&type=chunk) Operational Metrics (as of December 31, 2021) | Metric | Value | | :--- | :--- | | **Employees** | Approx. 21,000 | | **Mobile Customers** | Approx. 58 million | | **Fiber-Cable Footprint** | > 12 million homes passed |

Millicom International Cellular SA (NASDAQ:TIGO) Q4 2021 Earnings Conference Call February 11, 2022 8:00 AM ET Company Participants Michel Morin - VP, IR Mauricio Ramos - President, CEO & Executive Director Timothy Pennington - Senior EVP & CFO Conference Call Participants Diego Aragao - Goldman Sachs Group Stefan Gauffin - DNB Markets Marcelo Santos - JPMorgan Chase & Co. Sergey Dluzhevskiy - GAMCO Investors Soomit Datta - New Street Research Kevin Roe - Roe Equity Research Michel Morin Hello, everyone, an ...

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 | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - The company reported double-digit growth in service revenue and EBITDA for Q2 2021, with service revenue up more than 3% and EBITDA up more than 4% compared to Q2 2019 on an organic basis [6][8]. - EBITDA grew by 14% year on year, driven by increased revenues, with a notable increase in sales and marketing expenses [32][34]. - The overall LatAm EBITDA margin was over 40% in Q2 2021, higher than the previous year [34]. Business Line Data and Key Metrics Changes - The home or cable business grew by 15% year on year, adding over 100,000 new HFC customer relationships for the fourth consecutive quarter, totaling 4 million home customers [11][12]. - The mobile business also saw double-digit growth, with a record number of postpaid net additions, particularly in Colombia [7][19]. - B2B services returned to positive growth, driven by strong demand for digital solutions [6][7]. Market Data and Key Metrics Changes - All markets experienced growth in Q2 2021, with El Salvador achieving a remarkable 21% growth driven by mobile results [17]. - Colombia added a record 220,000 postpaid customers, with a year-on-year increase of 26% in the postpaid customer base [19]. - Nicaragua's revenue grew double digits, with EBITDA up 20% year on year [25]. Company Strategy and Development Direction - The company is focused on increasing its customer base and market share, particularly in Colombia, where it aims to leverage its improved network and commercial distribution [42][44]. - There is a strategic emphasis on investing in network upgrades and expanding coverage, particularly in the home and mobile segments [43][44]. - The company plans to continue its share buyback program, indicating confidence in its operational and financial performance [40][44]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of economic activity in Central America, with GDP growth forecasts of 3% to 5% for most countries [27]. - Despite ongoing challenges from COVID-19, the company does not anticipate a return to severe mobility restrictions, which supports a positive outlook for growth [29][98]. - The company is confident in its ability to manage through the pandemic, having demonstrated resilience in cash flows and customer acquisition [98]. Other Important Information - The company plans to increase capital expenditures by $100 to $200 million in 2021 compared to the previous year, funded by higher EBITDA [36][38]. - Net debt was reduced by $224 million, with leverage decreasing to 2.7 times [39]. Q&A Session All Questions and Answers Question: Outlook for margins in Colombia and performance in Bolivia - Management is pleased with the results in Colombia, focusing on volume growth despite lower margins, and expects Bolivia to return to pre-COVID levels soon [48][50]. Question: Network coverage in Colombia and cable investments - The company has the best network in Colombia and is focused on increasing coverage where it matters, while also expanding cable networks [60][62]. Question: Growth in Guatemala and potential for buyback limits - Guatemala's growth is attributed to a well-managed two-player market and network investments, with buyback limits potentially increasing if cash flow improves [79][82]. Question: B2B trends in Panama and future growth - Panama is positioned for growth as the economy recovers, with the company ready to capitalize on this opportunity [90][92]. Question: Operating cash flow and pandemic risks - The company is on track to meet its operating cash flow targets, with confidence in managing through the pandemic despite ongoing risks [93][98].

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]