Investor Presentaiton

AT&T ACQUIRED ENTITIES PRE-ACQUISITION INFORMATION & NON-GAAP RECONCILIATION LIBERTY LATIN AMERICA The table below sets forth the revenue and Adjusted OIBDA (as defined by Liberty Latin America) of the AT&T Acquired Entities for the pre-acquisition period from January 1, 2020 to October 31, 2020, as adjusted to conform with the accounting policies of Liberty Latin America and to make other adjustments consistent with our rebased growth calculations. These adjustments are further described in the footnotes to the table. The "revenue-as adjusted" and "Adjusted OIBDA-as adjusted" results are not necessarily indicative of the revenue and Adjusted OIBDA that would have occurred if the acquisition of the AT&T Acquired Entities had occurred as of January 1, 2020 or the revenue and Adjusted OIBDA that will occur in the future. Historical revenue of the AT&T Acquired Entities (1) Adjustments(2) Revenue as-adjusted Historical operating income of the AT&T Acquired Entities (1) Depreciation and amortization(1) Adjusted OIBDA(3) Adjustments(4) Adjusted OIBDA as-adjusted Ten months ended October 31, 2020 in USD millions 715.9 40.0 755.9 57.1 105.3 162.4 98.3 260.7 (1) Reflects historical financial information of the AT&T Acquired Entities. (2) (3) Represents adjustments primarily related to (i) the impact of new rates pursuant to agreements with AT&T related to roaming, subsea and ethernet services and (ii) aligning the accounting policies of the AT&T Acquired Entities to those used by Liberty Latin America. Reflects our calculation of Adjusted OIBDA, as defined by Liberty Latin America, based upon historical financial information of the AT&T Acquired Entities. Adjusted OIBDA, a non-GAAP measure, should be viewed as a measure of operating performance that is a supplement to, and not a substitute for, operating income or loss, net earnings or loss and other U.S. GAAP measures of income. (4) Represents adjustments primarily related to (i) the impact of new rates pursuant to agreements with AT&T related to roaming, subsea and ethernet services, (ii) aligning the accounting policies of the AT&T Acquired Entities to those used by Liberty Latin America, (iii) the impact of the elimination of parent-company allocations included in the historical financial statements of the AT&T Acquired Entities that are replaced by costs for services provided through the transitional services agreement with AT&T, which generally relate to network operations, customer service, finance and accounting, information, technology, and sales and marketing, and (iv) estimated standalone costs of $19 million not covered by the transitional services agreement with AT&T. LIBERTY LATIN AMERICA | FY 2020 INVESTOR CALL | MARCH 1, 2021 26 26

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