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Investor Presentaiton

Wrap up Compelling investment ticô Sound financing structure Advances our strategy Proprietary opportunity Attractive valuation Leader in 2-player market Growth track record in dollars Stable FX and growing economy Highly accretive from day 1 + Continue deleveraging trend • Accretion to benefit current shareholders via rights offering Leverage back below 3.0x within 12 months ~$200m Incremental EFCF1 2021F ~$750m Expected rights offering 1) Non-IFRS measure. Please refer to the non-IFRS disclosures in this presentation for a description of non-IFRS measures. A reconciliation of non-IFRS measures to the nearestequivalent IFRS measures is available at millicom.com/investors/reporting-center. EFCF is after leases and excludes incremental financing costs and is based on 2021 forecasts. 15
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