Investor Presentaiton

PRO FORMA CONSOLIDATED LEVERAGE RATIO DEFINITION & RECONCILIATION LIBERTY LATIN AMERICA We have set forth below our pro forma consolidated leverage and net leverage ratios, adjusted for (i) the Term A and Term B debt financing activity subsequent to December 31, 2022 and (ii) the impact of deconsolidating VTR in connection with the formation of the Chile JV in October 2022. Our pro forma consolidated leverage and net leverage ratios, each a non-GAAP measure, are defined as (i) pro forma adjusted total debt and finance lease obligations (pro forma total carrying value of debt and finance lease obligations plus discounts, premiums and deferred finance costs, less projected derivative principal-related cash receipts) less pro forma cash and cash equivalents divided by (ii) the last two quarters annualized pro forma Adjusted OIBDA as of December 31, 2022. For purposes of these calculations, adjusted total debt and finance lease obligations is measured using swapped foreign currency rates. We believe our pro forma consolidated leverage and net leverage ratios are useful because they allow our investors to consider the aggregate leverage on the business inclusive of any leverage at the Liberty Latin America level, not just at each of our operations. Investors should view pro forma consolidated leverage and net leverage as supplements to, and not substitutes for, the ratios calculated based upon measures presented in accordance with U.S. GAAP. Reconciliations of the numerator and denominator used to calculate the pro forma consolidated leverage and net leverage ratios as of December 31, 2022 are set forth below (in millions, except leverage ratios): Total debt and finance lease obligations Discounts, premiums and deferred financing costs, net Adjusted total debt and finance lease obligations Less: Cash and cash equivalents Net debt and finance lease obligations Pro forma adjustments: Term Loan A and Term Loan B, net Cash and cash equivalents Pro forma total debt and finance lease obligations Pro forma net debt and finance lease obligations Adjusted OIBDA(¹): Adjusted OIBDA for the three months ended September 30, 2022 Adjusted OIBDA for the three months ended December 31, 2022 Adjusted OIBDA - last two quarters Annualized Adjusted OIBDA - last two quarters annualized Pro forma adjustments: Adjusted OIBDA for the three months ended September 30, 2022 - VTR Pro forma Adjusted OIBDA - last two quarters Pro forma annualized Adjusted OIBDA - last two quarters annualized Pro forma consolidated leverage ratio Pro forma consolidated net leverage ratio (1) Adjusted OIBDA is a non-GAAP measure. See slide 25 for reconciliations of Adjusted OIBDA to the nearest U.S. GAAP measure. LIBERTY LATIN AMERICA | FY 2022 INVESTOR CALL | FEBRUARY 23, 2023 December 31, 2022 in USD millions; except leverage ratios 7,880.7 94.0 7,974.7 781.0 7,193.7 20.8 0.7 7,995.5 7,213.8 415.0 405.2 820.2 1,640.4 31.9 788.3 1,576.6 5.1x 4.6x 26 26

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