Sustaining connectivity to our communities

Luxembourg, July 30, 2020 – Millicom is pleased to announce its second-quarter 2020 results. Please find below links to the Q2 2020 Earnings Release, and to the H1 2020 Management Report and IAS 34 Interim Consolidated Financial Statements.

Millicom Chief Executive Officer Mauricio Ramos commented:

“The second quarter of 2020 was one of the most challenging in Millicom's 30-year history, but we have responded quickly and decisively to the pandemic. Our primary goal has been to protect our employees and customers and to keep our communities connected during this time of need. The measures we have taken are paying off, as we have maintained or increased market share, preserved cash flow, and have continued to make progress on strategically important initiatives.

The lockdowns had a major impact on our mobile business, especially in those markets with severe mobility restrictions, but we are now seeing some easing, and most of our key performance indicators and our revenue improved in June as compared to April and May.

As we navigate through this crisis, we remain focused on advancing our agenda of the last several years: building a purpose-driven and client-centric organization that attracts a diverse and talented workforce inspired to do great things, the right way. Once again, we were recently recognized as a Great Place To Work, ranking thirteenth among all companies in Latin America, and the number one telco on the list.

Meanwhile, we continue to invest in our state-of-the-art broadband networks, including major mobile network upgrades ongoing in Colombia, El Salvador, Panama and Nicaragua, and we are investing in the digital channels and tools that we need to delight our customers and reduce costs. We remain laser-focused on integrating our recent acquisitions, and we are on track to exceed our initial cost-savings expectations.

The ongoing pandemic presents many challenges in the short term, but I am more confident than ever in the long-term opportunity before us. As the premier provider of fast and reliable broadband in our markets, we are uniquely positioned to benefit.”

• Q2 2020 Earnings Release [Attachment]
• H1 2020 Management Report and IAS 34 Interim Consolidated Financial Statements [Attachment]

Conference call details

A presentation and conference call to discuss these results will take place today, July 30, 2020 at 15:00 (Stockholm) / 14:00 (London) / 09:00 (Miami).

Please dial in 5-10 minutes before the scheduled start time to register your attendance.
Dial-in numbers for the call are as follows:

Sweden: +46 (0) 8566 18467                                     Luxembourg: +352 2786 0549
UK: +44 (0) 8444 819752                                                        US: +1 646 7413 167

The access code is: 8857678

A live audio stream, presentation slides, and replay information can be accessed at millicom.com.

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For further information, please contact

About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2019, Millicom operating subsidiaries and joint ventures employed more than 22,000 people and provided mobile services to approximately 52 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

Regulatory Statement
This information was prior to this release inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on July 30, 2020.