Millicom increases Tigo Panama ownership to 100%

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June 29, 2022 5:36 PM EDT

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Millicom increases Tigo Panama ownership to 100%

Luxembourg, June 29, 2022 – Millicom closed today the previously-announced transaction to acquire the remaining 20% interest in Telecomunicaciones Digitales, S.A. (formerly known as Cable Onda S.A. or “Tigo Panama”) reflecting an exercise of the founders’ liquidity option as provided for in the Shareholders’ Agreement, which was entered into in 2018. As a result, Millicom now owns 100% of Tigo Panama, the leader in Panama’s telecommunications market.

For further information, please contact:

Press: Yocasta Valdez, Sr. Manager Digital Media & Communications[email protected]

Investors:Michel Morin, VP Investor Relations Sarah Inmon, Director Investor Relations [email protected]

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2022, Millicom employed approximately 20,000 people and provided mobile and fiber-cable services through its digital highways to around 50 million customers, with a fiber-cable footprint of close to 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

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