Remuneration of Directors by distribution of Millicom shares

Rhea-AI Summary

Millicom International Cellular S.A. announced the distribution of 24,737 shares to its Board of Directors as non-executive remuneration for the period from the 2021 AGM to the 2022 AGM. This decision aligns with the resolution passed during the annual general meeting on May 4, 2021. The share distribution was calculated based on the average closing share price of $38.41 for the three months ending April 30, 2021. Further details are available on Millicom's website.

Positive

• Distribution of shares aligns with shareholder resolution.
• Share price used for calculation was $38.41, indicating a stable valuation.

Negative

• None.

Remuneration of Directors by distribution of Millicom shares

Luxembourg, June 7, 2021 – Millicom International Cellular S.A. (“Millicom”) announces that, in accordance with the resolution of its shareholders at the annual general meeting held on May 4, 2021, it has distributed a total of 24,737 shares to members of its Board of Directors as part of the non-executive director remuneration for the period from the date of the 2021 AGM to the 2022 AGM, to be held in May 2022.

In accordance with the resolution the number of shares has been calculated based on the remuneration approved by the AGM and with reference to the average closing share price of Millicom on the Nasdaq Stock Market in the US for the three-month period ended April 30, 2021 ($38.41).

Details of the distribution are disclosed on Millicom’s website.

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For further information, please contact:

Press: Vivian Kobeh, Director Corporate Communications +1-786-628-5300 press@millicom.com   Yocasta Valdez, Group Manager Digital Media & Communications +1-305-929-5417 press@millicom.com

Investors: Michel Morin, VP Investor Relations +1-786-628-5270                                                                                                           investors@millicom.com   Sarah Inmon, Director Investor Relations +1-786-628-5303                                                                                                  investors@millicom.com

About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed 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, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers, with a cable footprint of more than 12 million homes passed. Founded in 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.

Attachment

• PR_Remuneration of Directors by distribution of Millicom shares_060721

FAQ

What is the recent share distribution by Millicom (TIGO)?

Millicom distributed 24,737 shares to its Board of Directors for remuneration as decided in the 2021 AGM.

When was the Millicom share distribution approved?

The share distribution was approved during the annual general meeting on May 4, 2021.

How was the share distribution amount calculated by Millicom (TIGO)?

The share amount was calculated based on the approved remuneration and the average share price of $38.41 for the three months ending April 30, 2021.

What was the average share price of Millicom (TIGO) used for the remuneration?

The average closing share price used for the remuneration calculation was $38.41.

What period does the Millicom share distribution cover?

The share distribution covers the period from the 2021 AGM to the 2022 AGM.