Remuneration of Directors by distribution of Millicom shares

Remuneration of Directors by distribution of Millicom shares

Luxembourg, July 31, 2020 - Millicom International Cellular S.A. ("Millicom") announces that, in accordance with the resolution of its shareholders at the annual general meeting on June 25, 2020, it has distributed a total of 32,358 shares to members of its Board of Directors as part of the non-executive director remuneration for the period from the date of the 2020 AGM to the 2021 AGM, to be held in May 2021.

In accordance with the resolution the number of shares has been calculated based on the remuneration approved by the AGM and with reference to the closing share price of Millicom on the Nasdaq Stock Market in the US on July 2, 2020 ($26.27).

Details of the distribution are disclosed on Millicom's website.

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About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2019, Millicom operating subsidiaries and joint ventures employed more than 22,000 people and provided mobile services to approximately 52 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

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