Investor Presentaiton

CONSOLIDATED LEVERAGE RATIO DEFINITION & RECONCILIATION We have set forth below our consolidated leverage and net leverage ratios, which include VTR. Our consolidated leverage and net leverage ratios, each a non-GAAP measure, are defined as (i) adjusted total debt and finance lease obligations (total carrying value of debt and finance lease obligations plus discounts, premiums and deferred finance costs, less projected derivative principal-related cash receipts) less cash and cash equivalents divided by (ii) last two quarters annualized Adjusted OIBDA as of December 31, 2021. For purposes of these calculations, adjusted total debt and finance lease obligations is measured using swapped LIBERTY LATIN AMERICA foreign currency rates. We believe our 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 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. Below are the reconciliations of the numerator and denominator used to calculate the consolidated leverage and net leverage ratios as of December 31, 2021 and September 30, 2021: September 30, 2021 December 31, 2021 in USD millions; except leverage ratios Total debt and finance lease obligations Discounts, premiums and deferred financing costs, net Projected derivative principal-related cash payments (1) Adjusted total debt and finance lease obligations Less: Cash and cash equivalents Net debt and finance lease obligations Operating income (2): Operating income for the three months ended June 30, 2021 Operating income for the three months ended September 30, 2021 Operating loss for the three months ended December 31, 2021 Operating income (loss) - last two quarters Annualized operating income (loss) – last two quarters annualized Adjusted OIBDA (3). Adjusted OIBDA for the three months ended June 30, 2021 Adjusted OIBDA for the three months ended September 30, 2021 Adjusted OIBDA for the three months ended December 31, 2021 Adjusted OIBDA - last two quarters Annualized Adjusted OIBDA - last two quarters annualized Consolidated debt and finance lease obligations to operating income ratio Consolidated net debt and finance lease obligations to operating income ratio Consolidated leverage ratio Consolidated net leverage ratio (1) Amounts represent the U.S. dollar equivalents and are based on interest rates and exchange rates that were in effect as of December 31, 2021 and September 30, 2021, respectively. 9,020.7 147.4 (31.0) 9,137.1 1,071.0 8,066.1 9,064.9 143.2 (104.2) 9,103.9 1,066.4 8,037.5 173.0 N/A 139.0 139.0 N/A (411.8) 312.0 (272.8) 624.0 (545.6) 464.0 N/A 446.1 446.1 N/A 469.6 910.1 915.7 1,831.4 (16.6)x (14.7)x 1,820.2 14.5 x 12.7 x 5.0 x 4.4 x 5.0 x 4.4 x (2) Operating income or loss is the closest U.S. GAAP measure to Adjusted OIBDA, as discussed in Adjusted OIBDA and Adjusted OIBDA less P&E Additions above. Accordingly, we have presented consolidated debt and finance lease obligations to operating income (loss) and consolidated net debt and finance lease obligations to operating income (loss) as the most directly comparable financial ratios to our non-GAAP consolidated leverage and consolidated net leverage ratios. (3) Adjusted OIBDA is a non-GAAP measure. See slide 22 for reconciliations of Adjusted OIBDA to the nearest U.S. GAAP measure. LIBERTY LATIN AMERICA | FY 2021 INVESTOR CALL | FEBRUARY 23, 2022 224 24

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