Millicom Q4 & FY 2016 Results, 8 February 2017

L- LEUDELANGE, Sweden, Feb 08, 2017

Millicom International Cellular S.A. (i)

• Substantial progress made towards our strategic goals
  • Record 2.6 million 4G net adds - 24% growth(ii) in mobile data revenue

• Fibre network expands by a record 777,000 homes - 8.1 million total homes passed

• Expanded EBITDA margin - strong 23% cash-flow growth - lower net debt - dividend cash-covered

• Agreement reached to sell Tigo Senegal for $129 million, process initiated to sell holding in HTA

Q4 Highlights

• Latam delivered 6.5% cable revenue growth(ii) and 17.5% mobile data revenue growth(ii)
• Service revenue down 0.9% year-on-year(ii) - held back by voice/SMS decline and El Salvador
• Adjusted EBITDA margin strengthened to 35.5%
• Africa achieved 9.1% service revenue growth(ii) with EBITDA margin of 32.4%

Full-Year Performance

• Total revenue of $6.25 billion - service revenue growth(ii) 1.2% year-on-year
• Adjusted EBITDA of $2,225 million, growth(ii) of 4.3%
• Operating Cash Flow up 23% to $1,141 million – Africa delivered positive OCF
• Net debt down by $114 million to $4,181 million
• 2016 Ordinary Dividend proposed at $2.64 per share

Summary of key financial indicators