<SEC-DOCUMENT>0000950103-20-008760.txt : 20200501
<SEC-HEADER>0000950103-20-008760.hdr.sgml : 20200501
<ACCEPTANCE-DATETIME>20200501060116
ACCESSION NUMBER:		0000950103-20-008760
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200430
FILED AS OF DATE:		20200501
DATE AS OF CHANGE:		20200501

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILLICOM INTERNATIONAL CELLULAR SA
		CENTRAL INDEX KEY:			0000912958
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38763
		FILM NUMBER:		20838162

	BUSINESS ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249
		BUSINESS PHONE:		3524571451

	MAIL ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp127238_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K<BR>
&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -6.85pt"><B>REPORT OF FOREIGN
PRIVATE ISSUER</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -6.85pt"><B>PURSUANT TO RULE
13a-16 OR 15d-16 OF THE </B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -6.85pt"><B>SECURITIES EXCHANGE
ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of April, 2020.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 21%; color: black">

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-38763</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MILLICOM INTERNATIONAL CELLULAR S.A.</B><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(<I>Exact
Name of Registrant as Specified in Its Charter</I>)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>2, Rue
du Fort Bourbon,</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>L-1249
Luxembourg</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Grand
Duchy of Luxembourg</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Address
of principal executive office)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 44%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">X&nbsp;</FONT></P></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 40-F</FONT></TD>
    <TD STYLE="width: 14%"><FONT STYLE="font-size: 10pt">&nbsp;<!-- Field: Rule-Page --></FONT><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 44%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="width: 14%"><FONT STYLE="font-size: 10pt">&nbsp;<!-- Field: Rule-Page --></FONT><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">X&nbsp;</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 44%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="width: 14%"><FONT STYLE="font-size: 10pt">&nbsp;<!-- Field: Rule-Page --></FONT><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 10pt">X&nbsp;</FONT></P></TD></TR>
</TABLE>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">MILLICOM
INTERNATIONAL CELLULAR S.A.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">INDEX TO FURNISHED MATERIAL</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><BR></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD COLSPAN="2" STYLE="padding-top: 3pt; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 3pt">Item</TD><TD STYLE="padding-top: 3pt; padding-bottom: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 3pt; width: 0.25in; padding-bottom: 3pt"></TD><TD STYLE="padding-top: 3pt; width: 0.25in; padding-bottom: 3pt"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="padding-top: 3pt; padding-bottom: 3pt"><FONT STYLE="font-size: 10pt">Press
                                         release dated April 30, 2020 </FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Item 1</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; width: 70%; vertical-align: middle"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; width: 30%; vertical-align: middle"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">Luxembourg, April&nbsp;30, 2020</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #000640"><B>Our Purpose in action</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Group highlights Q1 2020<SUP>i</SUP></B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>The financial highlights discussed and summarized in the table
below are presented on an IFRS basis and therefore do not include the fully consolidated results from our Guatemala and Honduras
joint ventures.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Revenue increased 5.1% as the contribution from acquired businesses more than offset the effect of weaker foreign currency
during the quarter.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Operating profit decreased 17.1% on higher depreciation and amortization due to acquisitions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>The COVID-19 pandemic impacted revenue by less than 1% in Q1, but we anticipate a more material impact on revenue and profitability
in Q2, as detailed beginning on page 2 of this release.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>The Group has taken significant actions to ensure continued delivery of reliable broadband connectivity to our customers in
support of the communities where we operate.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>The Group maintains a strong liquidity position, including Cash and equivalents of $1.7 billion, including $0.2 billion held
at joint ventures, plus $0.3 billion in undrawn credit facilities, providing liquidity resources totaling approximately $1.9 billion,
of which $1.1 billion is held at headquarters.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #000640">
    <TD STYLE="width: 56%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Financial highlights ($ millions)</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>% change</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,088</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,035</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.1%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Operating Profit</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">134</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">161</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(17.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Net (Loss) Income attributable to owners</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Latin America segment highlights &ndash; Q1
2020</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>Our Latin America (&ldquo;Latam&rdquo;) segment includes our
Guatemala and Honduras joint ventures as if they were fully consolidated. These highlights and the table that follows include non-IFRS
measures. See page 23 for a description of these measures and for reconciliations to the nearest equivalent IFRS measures.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Service revenue* up 4.8% year-on-year fueled by acquisitions, and up 0.2% organically.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>EBITDA* up 2.3% affected by currencies and one off charges - organic growth (2.5)%.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Added 75,000 HFC customer relationships in Q1 to reach 3.5 million.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>COVID-19 lock-downs adversely affected operational and financial performance in many of our markets beginning in mid-March,
and early signs suggest service revenue could be down between 6% and 7% organically in April.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="vertical-align: bottom; width: 53%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam segment highlights ($ millions)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,504</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,426</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.5%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service Revenue*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,395</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,331</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.8%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid; padding-left: 13.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>0.2%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>3.7%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(3.4) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">600</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">587</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.3%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid; padding-left: 13.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(2.5)%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>4.5%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(6.9) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA Margin*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">39.9%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">41.2%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(1.2) pt</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Capex*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">174</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">168</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">3.4%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">OCF (EBITDA &ndash; Capex)*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">427</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">419</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040">1.9%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&nbsp;&nbsp;&nbsp;&nbsp;Organic growth*</I></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(3.9)%</I></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>7.3%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(11.2) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I></I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I></I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I></I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Non-IFRS measure. See page 23 for a description
of these measures and for reconciliations to the nearest equivalent IFRS measures. 2019 EBITDA and OCF numbers have be re-presented
as a result in the change in cost allocation. Please refer to page 9 for a description and reconciliation of this representation.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #7F7F7F"><SUP></SUP></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #7F7F7F"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #7F7F7F"><SUP>i</SUP>With the exception of balance sheet
items, the comparative 2019 financial information in this earnings release has been adjusted for the classification of our operations
in Chad as discontinued operations. Our operations in Chad were disposed of on June 26, 2019. Additionally, the comparative 2019
financial information was also adjusted as a consequence of the finalization of the purchase accounting of Cable Onda's acquisition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Millicom Chief Executive Officer Mauricio
Ramos commented:</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&quot;As we face unprecedented
challenges associated with the COVID-19 pandemic, our purpose is more important than ever: we build digital highways that connect
people, improve lives and support our communities. Our customers and communities rely on us to keep them connected. I am proud
to report that we have risen to the challenge thanks to the effectiveness of our business continuity plans, the resilience of networks,
and the strength and determination of our people. Our engineers have been working around the clock to ensure that our services
continue uninterrupted as traffic surges; and we are supporting the governments in our countries with technology and tools to keep
their people informed in their efforts to contain the virus. You can get more details on our response to the pandemic in the attached
CEO letter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In light of the severe impact
that COVID-19 is having on the global economy and in many of our markets, we have already implemented significant measures to help
us navigate through these challenging times, which we anticipate will impact our revenue at least through the remainder of 2020.
These measures include a reduction in capex made possible by focusing largely on adding network capacity while deferring other
investment plans, and the implementation of new cost savings initiatives. Our goal with these measure is to sustain healthy cash
flow generation throughout this period. Moreover, as we prioritize client service, employee health and safety and the preservation
of our financial strength and liquidity, we have also decided to suspend all share repurchases for the foreseeable future, and
our Board has decided not to recommend the payment of a dividend in 2020. In aggregate, we expect these actions will enhance our
2020 cash flow by more than $550 million and position us to resume the execution of our plans once the pandemic passes.&quot;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Subsequent event</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">On April 29, 2020, Millicom
communicated in a press release that it refutes Telefonica&rsquo;s recent public communications alleging that the conditions to
closing the Share Purchase Agreement (SPA) for the acquisition of Telef&oacute;nica&rsquo;s operating subsidiary in Costa Rica
have been met. Millicom further notes that, in the event that the pending regulatory approvals for the transaction are not issued
by May 1, 2020, it intends to terminate the SPA in accordance with the terms of the agreement. As communicated in a press release
dated February 20, 2019, Millicom entered into the SPA on that date to acquire Telefonica&rsquo;s Costa Rica mobile business subject
to customary closing conditions, which included the issuance of required regulatory approvals, certain of which have not yet been
issued. The SPA establishes an end date of May 1, 2020, after which either party may terminate the agreement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>COVID-19 - Qualitative and quantitative assessment
on business activities, financial situation and economic performance</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">The outbreak of a novel
and highly contagious form of coronavirus (&ldquo;COVID-19&rdquo;), which the World Health Organization has declared to constitute
a pandemic, has resulted in numerous deaths, adversely impacted global commercial activity and contributed to significant volatility
in global equity and debt markets. The impact of the outbreak is rapidly evolving, and most countries globally, including a majority
of the countries where we operate, have reacted by implementing severe restrictions on travel and public gatherings, including
the closing of offices, businesses, schools, retail stores and other public venues, and by instituting curfews or quarantines.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Such measures, as well as
the general uncertainty surrounding the dangers of COVID-19, have produced a significant disruption in economic activity and are
having an adverse impact on transportation, hospitality, tourism, entertainment and other industries. As a result, many economists
now project a severe global recession and a contraction in economic activity in Latin America in 2020, including the countries
where we operate. In addition, many currencies globally have weakened against the U.S. dollar since the onset of the pandemic.
In our markets, the Colombian peso has weakened meaningfully year-to-date, and some of our other markets may experience increased
currency volatility in coming months.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"><B>Impact on our markets
and business</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">To date, the countries where
we operate have reported fewer cases and fatalities related to COVID-19 than in Europe and the United States, but this may reflect
a relative lack of testing and reporting, and the number of cases and deaths both continue to rise. That said, most governments
in our markets were quick to implement severe restrictions, which may prove effective at containing the spread of the virus and
its impact on health systems and economies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As one of the largest private
companies in many of our markets, we have been supporting local governments and health officials in many ways, especially by communicating
important information to the public.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Our business is at the core
of the contingency plans for the millions of individuals and companies who rely on us to connect them to their family and friends,
business partners, and to the world. As a result, we have observed an increase in traffic of approximately 40-50% on our fixed
networks since restrictions were imposed by governments in our markets, whilst the impact on our mobile networks have been more
modest. However, we have also seen the negative impact of the disruption to our sales and distribution channels caused by the closure
of many of our stores and points of sale. These closures impact our ability to service and to collect from our customers and to
sell products and services, including postpaid mobile and residential cable subscriptions and prepaid SIM cards and top-ups.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Governments in some countries
have mandated that companies such as ours avoid disconnecting clients for non-payment, that we waive fees for late payments, and/or
that we defer late payments over an extended period of two or three years, among other measures. Unfortunately, news headlines
related to the implementation of such regulatory measures have, at times, created some confusion among our customers and has exacerbated
the disruption to our collections. We are working closely with these governments to ensure our full compliance with the measures,
and we have gradually rolled out &quot;lifeline products&quot; to all our markets to retain customers who are temporarily unable
to pay for our services, while also providing an incentive for other customers to continue to pay fully and in a timely manner.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Finally, our supply chain
continues to function without any meaningful interruption, and we have taken steps to continue to secure sufficient inventory and
supplies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"><B>Impact on trading</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">On March 17, 2020, we published
a press release stating that activity levels had not been affected by COVID-19 through mid-March. However, the second half of March
was impacted to varying degrees by the implementation of severe mobility restrictions in many countries. For our Latam segment,
we estimate that these restrictions reduced our service revenue by approximately $10 million, implying a 0.7 percentage point impact
on growth in Q1, stemming in large part from the immediate impact of lock-downs on our prepaid mobile business. This situation
has worsened somewhat in April as mobility restrictions became increasingly restrictive and were gradually extended to nearly all
our markets. Normalizing for the Easter holiday, early signs suggest a 6-7% impact on Group organic service revenue in April. Encouragingly,
we have seen signs of modest improvement since the Easter break thanks in part to the gradual roll out of our lifeline products
and as we gradually find new ways to reach our customers through digital and other channels.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As a result, we now anticipate
that our operating and financial performance in Q2 and for the full year 2020 will be materially weaker than we had anticipated,
and the pandemic may have a long-lasting macroeconomic impact. However, the mobility restrictions imposed by governments in response
to COVID-19 have made our services more essential for our residential, business and government customers alike. Thus, the long-term
opportunity we have been pursuing may have been enhanced by recent events. Until such time when we can better ascertain the full
impact on our business, we are leaving unchanged our medium term goals to deliver mid-single-digit organic service revenue growth,
mid-to-high single-digit organic EBITDA growth, and around 10% OCF (EBITDA less Capex) organic growth for the Latam segment.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"><B>Management action</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">It is difficult to predict
whether the challenges we have been facing since mid-March will continue for the remainder of 2020 or 2021 and beyond, but we have
implemented the following initiatives aimed at preserving our strong cash flow and liquidity in 2020:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">1. cost savings of at least
$100 million, reflecting lower levels of activity as well as new measures;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">2. capex reduction of $200-300
million, as we focus resources on adding capacity and preserving network integrity;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">3. cancellation of the dividend
for 2020 ($100 million); and,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">4. suspension of the share
buyback program (approximately $150 million in 2020).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"><B>Impact on liquidity and
financial resources</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #828282">As of March 31, 2020 we had $1,747 million in
Underlying cash. During the period, we drew $333 million from our $600 million revolving credit facility (RCF), such that we ended
Q1 2020 with approximately $2.0 billion of liquidity, when considering both our Underlying cash and the $267 million undrawn portion
of the RCF. In contrast, we had relatively modest financial obligations maturing near term, including $111 million in 2020 and
$168 million in 2021. As of March 31, 2020, we were in compliance with all of our covenants, and we had significant headroom over
our principal leverage covenant.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"><B>Impact on accounting
matters</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As COVID-19 continues to
spread, the potential impacts, including a global, regional or other economic recession, are increasingly uncertain and difficult
to assess. Nevertheless, we have identified potential significant accounting implications in the following areas:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #828282; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">&bull;</TD><TD>Impairment of non-financial assets/goodwill/investments
in joint ventures</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; color: #828282">Given this outbreak
is still very recent and considering the uncertainty of its effects on future periods, management believes it is too early to perform
an impairment test in the first quarter of 2020. However, management has updated the sensitivity analysis performed in the framework
of its 2019 goodwill impairment testing, and management notes an increased risk of impairment in Nicaragua, El Salvador and Costa
Rica.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #828282; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">&bull;</TD><TD>Impairment of trade receivables / Revenue recognition</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; color: #828282">Given the very
recent outbreak in our markets, we did not see any significant effects on collections as of March closing. However, this area is
monitored very closely by management, particularly in countries where governments are mandating continuity of service.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">There may be implications
on other accounting areas such as revenue recognition, inventories or share-based payments, but we currently do not expect these
to be significant as of today. Please refer to our Financial Statements (Note 2) for further details.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>


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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Group Quarterly Financial Review - Q1 2020</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 61%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Income statement data (IFRS)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 13%; border-bottom: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 13%; border-bottom: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 13%; border-bottom: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($ millions, except EPS in $)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Revenue</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,088</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,035</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5.1%</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Cost of sales</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(305)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(291)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.6%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Gross profit</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>783</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>743</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5.3%</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Operating expenses</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(401)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(374)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Depreciation</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(223)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(199)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">12.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Amortization</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(73)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(60)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">22.0%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Share of net profit in Guatemala and Honduras</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other operating income (expenses), net</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(52.7)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Operating profit</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>134</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>161</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(17.1)%</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Net financial expenses</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(141)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(136)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other non-operating income (expenses), net</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(159)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">12</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Gains (losses) from other JVs and associates, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(111.6)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) before tax</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(167)</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>41</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>NM</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Net tax credit (charge)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">16</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(18)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) for the period from continuing ops.</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(151)</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>23</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>NM</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Non-controlling interests</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">28</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(10)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Profit (loss) from discontinued operations</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net profit (loss) for the period</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(122)</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>13</B></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>NM</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Weighted average shares outstanding (millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">101.12</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">100.02</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: #44546A 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EPS</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.21)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.13</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Q1 2020, group revenue
increased 5.1% ($53 million) year-on-year to $1,088 million. The increase largely reflects acquisitions in Panama and Nicaragua.
The acquired revenue more than offset the translation impact of weaker currencies in some of our markets, most notably Colombia
and Paraguay.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Cost of sales increased
4.6% ($14 million) year-on-year to $305 million. The increase largely reflects the impact of the acquisitions. Operating expenses
increased 7.4% ($28 million) year-on-year to $401 million. The increase reflects the acquired operations and $8 million of one-offs
related to withholding and other taxes incurred in relation to our acquisition of the mobile business in Nicaragua.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Depreciation increased 12.1%
($24 million) year-on-year to $223 million, mostly due to acquisitions. Amortization expense increased $13 million to $73 million
in Q1 2020 up from $60 million in Q1 2019, due to an increase from the recent acquisitions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 54%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Amortization Expense</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 23%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Group (IFRS)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 23%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Guatemala and Honduras</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($ millions)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Licenses and Spectrum</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(13)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Related to acquisitions</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(35)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(25)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other items</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(25)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(7)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Total Amortization</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(73)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(34)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Our share of profits in&nbsp;Guatemala
and Honduras&nbsp;was $45 million in Q1 2020, an increase of 1.1% year-on-year due to higher profitability in Guatemala.&nbsp;Other
operating income of $3 million decreased slightly from $5 million in Q1 2019 due to lower gains on tower sales. As a result of&nbsp;these
factors, operating profit&nbsp;was&nbsp;$134 million in Q1 2020, a decline of 17.1% compared to $161 million in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Net financial expenses&nbsp;increased&nbsp;$6
million year-on-year to $141 million due to higher&nbsp;levels of gross debt to fund our recent acquisitions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Other non-operating expenses
were $159 million in Q1 2020,&nbsp;compared to an income of&nbsp;$12 million in Q1 2019. The increase mostly reflects the mark
to market of our equity investments in Helios Towers and Jumia for around $80 million and foreign exchange losses.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Tax credit was $16 million
in&nbsp;Q1 2020, a difference of $34 million compared to the tax expense of $18 million in Q1 2019, mainly explained by higher
deferred tax credit primarily driven by foreign exchange losses in Colombia.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As a result of&nbsp;the
above factors, net&nbsp;loss&nbsp;from continuing operations was&nbsp;$151 million in the quarter, compared to a profit of $23
million&nbsp;in&nbsp;Q1 2019. Non-controlling interests&nbsp;of $28 million in Q1 2020 reflect our partners' share of net losses
in our subsidiaries in Colombia and Panama.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Net&nbsp;loss&nbsp;was $122
million,&nbsp;or $1.21&nbsp;per share, for&nbsp;Q1 2020, compared to a profit per share of $0.13 in Q1 2019. The weighted average
number of shares during the quarter was 101.12 million, an increase of 1.1% year-on-year mainly related to vesting of shares under
our employee share-based compensation plans. As of March&nbsp;31, 2020, we had 101,739,217 shares outstanding, including 662,068
held in treasury.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Cash Flow</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, operating
free cash flow, defined as EBITDA, less cash Capex, working capital, other non-cash items and taxes paid, was $15 million, an increase
of $14 million compared to $1 million in Q1 2019. Factors that contributed to the change include a $12 million increase in EBITDA
in Q1 2020 compared to Q1 2019 due to acquisitions, a $9 million decrease in net cash capex (excluding spectrum and licenses) as
well as the benefit of an $11 million decrease in working capital in Q1 2020 compared to Q1 2019 and an $8 million increase in
taxes paid.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 68%; border-left: #000640 1pt solid; border-bottom: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash flow data ($ millions)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #44546A 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Operating free cash flow*</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>15</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>NM</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Finance charges paid, net</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(104)</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(63)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64.2%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Lease interest payments, net</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(37)</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(32)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">17.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Free cash flow*</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(126)</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(94)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>34.4%</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Dividends and advances from Guatemala and Honduras</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">51</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(53.7)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Dividends and advances to non-controlling interests</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(11)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #000640 1pt solid; border-bottom: #000640 1pt solid; border-left: #000640 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Equity free cash flow*</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; border-bottom: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(102)</B></FONT></TD>
    <TD STYLE="border-right: #000640 1pt solid; border-bottom: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(54)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000640 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>89.6%</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Non-IFRS measures. See page 23 for a description
of these measures. Please refer to Note 5 of our Unaudited Interim Condensed Consolidated Financial Statements for the reconciliation
of Operating free cash flow to the nearest IFRS measures. In prior years, equity free cash flow was calculated by including the
results of Guatemala and Honduras as if fully consolidated. On that same comparable basis, equity free cash outflow was $31 million
in Q1 2020 and $30 million in Q1 2019.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Net finance charges paid
increased by $41 million during the period, mainly due to higher average gross debt in Q1 2020 compared to Q1 2019, to fund our
recent acquisitions. Lease interest payments increased slightly to $37 million in Q1 2020 from $32 million in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Dividends and advances received
from Guatemala and Honduras were $24 million, down from $51 million in Q1 2019 due to timing of payments. Finally, there were no
dividends paid to non-controlling interests in Q1 2020, compared to $11 million paid in Q1 2019. As a result of the above factors,
equity free cash flow outflow was $102 million in Q1 2020, compared to an outflow of $54 million reported in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Debt</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Debt information</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Gross Debt</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Net</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Leases</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Financial Obligations</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 30%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($ millions)</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>USD</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>LCY</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Total</B></FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Debt*</B></FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Gross</B></FONT></TD>
    <TD STYLE="width: 11%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Net*</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Bolivia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">320</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">320</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">22</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">298</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">41</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">361</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">339</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">296</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">428</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">724</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">132</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">592</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">293</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,017</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">885</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Costa Rica</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">42</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">107</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">149</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">9</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">140</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">154</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">145</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">El Salvador**</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">267</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">268</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">19</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">248</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">96</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">364</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">345</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Panama**</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">919</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">919</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">74</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">844</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">84</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,002</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">928</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Paraguay</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">559</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">165</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">724</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">192</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">532</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">82</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">807</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">614</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Nicaragua</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">19</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(19)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">121</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">121</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">102</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Latin America</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">897</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,206</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,103</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">467</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,636</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">722</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,825</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,358</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Africa</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">174</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">42</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">215</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">23</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">192</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">220</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">435</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">412</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Corporate</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,057</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,092</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,056</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,036</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">26</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,117</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,061</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Group (IFRS)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>4,127</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,282</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>6,410</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,546</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>4,863</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>968</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,378</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5,831</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Guatemala and Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,031</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">252</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,283</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">202</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,081</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">307</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,590</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,387</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Underlying (non-IFRS)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,158</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7,693</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,749</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,944</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,274</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8,967</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7,219</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Proportionate (non-IFRS)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,571</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,037</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,607</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,582</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">978</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7,585</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,003</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>&nbsp;</I></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Net Debt and Net financial obligations are
non-IFRS measures. See page 23 for a description of non-IFRS measures and for reconciliations to the nearest equivalent IFRS measures
Cash includes term deposits of $2 million as of March 31, 2020.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>** El Salvador's official unit of currency
is the&nbsp;U.S.&nbsp;dollar, while Panama uses the&nbsp;U.S. dollar&nbsp;as legal tender. Our local debt in both countries is
therefore denominated in U.S. dollars but presented as local currency (LCY).</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>&nbsp;</I></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>In order to provide a more
complete picture of the Group's financial situation, this section discusses gross debt, leases, cash, and net debt on an underlying
basis, a non-IFRS measure that includes Guatemala and Honduras as if fully consolidated.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As of March&nbsp;31, 2020,
underlying gross debt reached $7,693 million, an increase of $438 million compared to $7,255 million reported as of December 31,
2019. The increase mainly reflects the $250 million re-tap of the 5.875% Senior Notes due 2027 in Paraguay in January, as well
as an increase of $333 million in debt from the disbursement from a $600 revolving credit facility (&quot;RCF&quot;) that we drew
from in March. Included in our underlying gross debt, Guatemala and Honduras had $1,283 million as of March&nbsp;31, 2020, which
had no changes from the debt as of December 31, 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Approximately 57% of underlying
gross debt at March&nbsp;31, 2020 was in Latam, 3% in Africa, and the remaining 40% at the corporate level. In terms of mix, 33%
was in local currency or swapped for local currency, and 74% was at fixed rates or swapped for fixed rates, while the average effective
interest rate was 5.8%, and the average maturity was 6.1 years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Our underlying cash position
reached $1,749 million, an increase of $354 million compared to $1,395 million as of December 31, 2019, due mostly to the RCF draw
down. The underlying cash position includes $202 million in Guatemala and Honduras, as of March&nbsp;31, 2020. As a result, our
underlying net debt was $5,944 million as of March&nbsp;31, 2020, an increase of $85 million from $5,860 million as of December
31, 2019 due to the negative free cash flow generation during the period, which is typical of the first quarter of the year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In addition, as of March&nbsp;31,
2020, we had underlying lease liabilities of $1,274 million, which represented 14% of underlying gross financial obligations. Including
these lease liabilities, underlying net financial obligations were $7,219 million as of March&nbsp;31, 2020, Proportionate leveragei
which captures our proportional ownership in each country, was 3.25x as of March&nbsp;31, 2020, up from 3.19x as of December 31,
2019. The increase in leverage during Q1 2020 mostly reflects the negative cash flow as well as the impact of the weaker Colombian
Peso on our EBITDA during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; border-bottom: #60769A 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #7F7F7F"><SUP>i</SUP></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #7F7F7F"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #7F7F7F">Proportionate leverage
is a non-IFRS measure calculated using last twelve-month EBITDA, proforma for acquisitions and disposals. Refer to page 23
for a description of non-IFRS measures and for reconciliations to the nearest equivalent IFRS measures.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Operating segment performance</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>Our management determines
operating and reportable segments based on the reports that are used by the chief operating decision maker to make strategic and
operational decisions from both a business and geographic perspective. The Millicom Group&rsquo;s risks and rates of return for
its operations are predominantly affected by operating in different geographical regions. The Millicom Group has businesses in
two main regions, Latin America and Africa, which constitute our two segments.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>Our Latin America segment
includes the results of Guatemala and Honduras as if they were fully consolidated, as this reflects the way our management reviews
and uses internally reported information to make decisions about operating matters and to provide increased transparency to investors
on those operations. Our Africa segment does not include our joint venture in Ghana because our management does not consider it
to be a strategic part of the group.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>Please refer to Note 5 of
our Unaudited Interim Condensed Consolidated Financial Statements for more details on our segments.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>The information contained
herein can also be accessed electronically in the Financial &amp; Operating Data Excel file published at www.millicom.com/investors
alongside this earnings release.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><B>Segment information</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">We manage our operations
and report our results under two segments, Latam and Africa, and we provide additional information on each of the largest countries
within our Latam segment. Beginning in Q1 2020, we are allocating corporate costs to each segment based on their contribution to
underlying revenue, and only unusual costs, such as the M&amp;A-related fees incurred in both 2018 and 2019, will remain unallocated
going forward. This change in presentation has no impact on Group EBITDA, nor does it affect country-level EBITDA.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In order to facilitate comparisons
of Q1 2020 with prior periods, we re-present below the segment EBITDA to conform with this new segment EBITDA reporting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam EBITDA</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q2 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q3 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FY 2018</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q2 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q3 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FY 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA as reported</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">514</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">514</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">525</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">524</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,077</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">591</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">584</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">620</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">648</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,443</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Change in cost allocation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(11)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(12)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(25)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Re-presented EBITDA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">518</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">516</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">524</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">514</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,072</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">577</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">619</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">636</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,418</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Re-presented EBITDA margin %</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">41.1%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40.3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">41.4%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40.9%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.1%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">42.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.1%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">43.9%</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Africa EBITDA</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q2 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q3 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 18</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FY 2018</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q2 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q3 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 19</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FY 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA as reported</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">32</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">38</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">143</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">17</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">122</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Change in perimeter*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(12)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(9)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(12)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(41)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Change in cost allocation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Re-presented EBITDA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">30</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">21</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">98</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">31</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">14</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">117</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Re-presented EBITDA margin %</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">20.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.4%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">14.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">34.1%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">30.7%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">* Reflects divestiture of Chad</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Latin America segment</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B><I>Business units</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">We discuss our Latam results
under two principal business units:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">1. Mobile, including mobile
data, mobile voice, and mobile financial services (MFS) to consumer, business and government customers;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">2. Cable and other fixed,
including broadband, Pay TV, content, and fixed voice services for residential (Home) customers, as well as voice, data and value-added
services and solutions to business and government customers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">On occasion, we also discuss
our performance by customer type, with B2B referring to our business and government customers, while B2C includes residential and
personal consumer groups.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt; color: #000640"><B><I>Market environment</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, economic
activity was broadly stable in January and February but softened considerably in many of our markets during March in direct relation
to the COVID-19 pandemic and the impact of measures taken by governments to slow the spread of the disease. Currencies were mostly
stable in our markets during the quarter, with the exception of the Colombian peso, which was impacted by the sharp decline in
oil prices and depreciated 4.5% on average during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Latam segment - Key Performance
Indicators</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">As noted previously, restrictions
related to COVID-19 severely disrupted our distribution channels and impacted our ability to capture new customers during the quarter.
Although this varies from country to country and from week to week, we estimate that approximately 50% of our stores and 20% of
points of sales have been closed at any given point in time since mid-March, and this has had a major impact on our customers'
ability to top-up their prepaid mobile, pay outstanding bills, and buy new services.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Prepaid top-ups have been
most affected in most countries since the onset of the pandemic. Sales of new postpaid subscriptions have declined very materially,
but this has been partially offset by much lower churn. In our residential cable (Home) business unit, new sales have continued,
largely driven by the increased demand for reliable broadband to support remote learning school and work from home activities during
the pandemic. In B2B, the SMB sector has been most affected by the lock-downs, but this has been partially offset by healthy demand
from the corporate sector, as they set in motion their own business continuity plans.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Overall, revenue from our
subscription-based businesses has been somewhat less affected to date by the lock-downs, but we have seen a drag on collections,
caused in part by the disruptions stemming from the lock-downs, and this may result in higher levels of bad debt provisions in
future periods.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Q1 2020, our mobile customer
base declined by 0.4 million during the quarter and stood at 39.4 million as of the end of March. For the first time in almost
three years, our postpaid customer base also declined (by 56,000) during the period due largely to a sharp decline in new sales
following our store closings. In addition, in an effort to mitigate future credit risk, we have halted the migration of prepaid
customers to postpaid plans, a key driver of postpaid growth in recent years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Monthly mobile ARPU declined
6.7% year-on-year to $7.0, due to (1) weaker currencies, most notably in Colombia and Paraguay which depreciated over the last
year and, (2) the combined impact of weaker economic growth, increased competitive pressure, and mobility restrictions. The acquisition
of Nicaragua, where ARPU below the Latam segment average, also contributed to the ARPU decline year-on-year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Home, we expanded our
HFC network to cover an additional 110,000 homes, a slowdown from recent years, due to disruptions caused by the social unrest
in Bolivia during Q4 as well as slower network expansion in other markets and the onset of the COVID-19 pandemic late in the quarter.
Meanwhile, penetration of fixed network continued to increase during the quarter, as we added 75,000 net customer relationships
on our HFC network. Home ARPU decreased 2.7% year-on-year to $28.7 due to a decline in Colombia caused by the weaker currency.
In local currency terms, almost all of our markets experienced positive ARPU growth during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="white-space: nowrap; width: 39%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Key Performance Indicators (&lsquo;000)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q3 19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q2 19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20 vs Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39,449</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39,846</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">38,588</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37,162</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33,891</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">16.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which 4G customers</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">14,876</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">15,398</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13,535</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,947</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10,756</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">38.3%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which postpaid subscribers</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,078</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,134</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5,018</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,824</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,545</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11.7%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile ARPU ($)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.7)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Total homes passed</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,929</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,842</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,635</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,432</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: rgb(0,6,64)">11,231</FONT></TD>
    <TD STYLE="border-top: rgb(0,6,64) 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.2%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which HFC homes passed</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,570</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,460</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,213</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10,958</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10,722</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.9%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">HFC customer relationships</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,531</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,456</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,393</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,294</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,200</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10.3%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">HFC revenue generating units</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7,143</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,948</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,773</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,539</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,323</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13.0%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home ARPU ($)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">28.7</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.7)%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B></B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Latam segment financial
results</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Q1 2020, revenue in our
Latam segment increased 5.5% year-on-year to $1.5 billion, while service revenue increased 4.8%. The increase in service revenue
is largely due to our mobile acquisitions in Panama and Nicaragua in the last twelve months, which contributed $55 million and
$51 million, respectively, during the quarter. Adjusting for currency and acquisitions, and including the mobile acquisitions in
Panama and Nicaragua in both periods, organic service revenue growth was roughly flat (+0.2%) year-on-year compared to Q1 2019,
a quarter in which we reported our fastest growth of 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">By country, organic service
revenue growth for the quarter was positive in Guatemala (+4.8%), Colombia (+1.2%), and Bolivia (+0.4%) and negative in Panama
(-5.2%), Honduras (-2.3%), Paraguay (-1.5%) and El Salvador (-0.9%).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">By business unit, organic
service revenue growth in Mobile declined 1.9% year-on-year, an improvement compared to a decline of 2.8% in Q4 2019, with El Salvador,
Guatemala, and Bolivia showing improved organic growth. On an organic basis, prepaid mobile service revenue declined low-single-digits
year-on-year, while postpaid grew low-single-digits in the quarter. Cable grew 3.2% organically supported by 6.5% organic growth
in our Home business. Growth in B2B declined 3.3% compared to Q1 2019, as we began to feel the effects of COVID-19 quarantines
on small businesses. Revenue from telephone and equipment increased 15.7% year-on-year to $110 million, due mostly to increases
in Guatemala, Panama and Colombia, as well as the contribution from acquisitions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">EBITDA for our Latam segment
increased 2.3% year-on-year to $600 million in Q1 2020. The increase reflects the mobile acquisitions in Panama ($27 million) and
Nicaragua ($21 million), partially offset by weaker currencies in Colombia and Paraguay. Stripping out these impacts, EBITDA declined
2.5% on an organic basis. Excluding the impact of an $8 million one-off in Nicaragua, EBITDA would have declined 1.2% organically,
as growth was positive only in El Salvador, Guatemala and Panama during the quarter. The EBITDA margin for our Latam segment declined
1.2 percentage points to 39.9% in Q1 2020 compared to 41.2% in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Capex in Latin America totaled
$174 million in the quarter. In mobile, we added more than 300 points of presence to our 4G network, to end the quarter with more
than 12,700, implying an increase of 18% year-on-year, excluding the benefit of acquisitions. At the end of Q1 2020, our 4G networks,
which now include Panama and Nicaragua, covered approximately 73% of the population (approximately 120 million in our markets),
up from 67% at Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">OCF, measured as EBITDA
minus Capex, increased 1.9% year-on-year to $427 million in Q1 2020. On an organic basis, OCF declined 3.9%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 46%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam Financial Highlights</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 20%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 17%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($m, unless otherwise stated)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,504</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,426</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.5%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>0.9%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>3.8%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(2.9) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,395</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,331</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.8%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>0.2%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>3.7%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(3.4) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&nbsp;&nbsp;Mobile</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">843</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">778</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Of which mobile data</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">462</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">401</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">15.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&nbsp;&nbsp;Cable and other fixed</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">539</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">541</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.5)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA<SUP>*</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">600</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.3%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.5)%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>4.5%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(6.9) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin<SUP>*</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39.9%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">41.2%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(1.2) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Capex<SUP>*</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">174</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">168</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">OCF*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">427</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">419</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.9%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth*</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(3.9)%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>7.3%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000040"><I>(11.2) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Non-IFRS measures. Capex is defined as capital
expenditures excluding spectrum, license costs and finance lease capitalizations. See page 23 for a description of non-IFRS measures
and for reconciliations to the nearest equivalent IFRS measures. 2019 EBITDA has been re-presented as a result in the change in
cost allocation. Please refer to page 9 for a description and reconciliation of this representation.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Latam segment performance
by country - Q1 2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 32%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>$ millions</B></FONT></TD>
    <TD STYLE="width: 17%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Revenue</B></FONT></TD>
    <TD STYLE="width: 17%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Service Revenue</B></FONT></TD>
    <TD STYLE="width: 17%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA</B></FONT></TD>
    <TD STYLE="width: 17%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA Margin</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Bolivia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">158</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">155</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">62</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39.3%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">356</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">332</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">119</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.3%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">El Salvador</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">96</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">88</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37.0%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">369</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">319</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">194</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">52.5%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">141</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">133</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Panama</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">152</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">148</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">69</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45.6%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Paraguay</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">142</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">134</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.9%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Others*</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">90</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">87</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.9)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Latam Segment</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,504</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,395</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>600</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>39.9%</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>&nbsp;* &lsquo;Others&rsquo; includes Costa
Rica, Nicaragua, inter-company eliminations, and regional costs.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>SOUTH AMERICA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Colombia</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">9,135</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8,976</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.8%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Of which, 4G customers ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,374</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,677</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">26.0%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,721</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,677</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.6%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">HFC customer relationships ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,398</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,262</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10.8%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">356</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">391</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8.9)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&nbsp;Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>2.1%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>3.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(1.1) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">332</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">368</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(9.8)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>1.2%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>2.8%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(1.6) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">119</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">136</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(12.8)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.3)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>10.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(12.6) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.3%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">34.8%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.5) pt</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Colombia entered into a
strict lock-down from late March, which has continued throughout April, affecting approximately 50% of our stores and 20% of our
points of sales in the country. This is impacting prepaid top-ups as well as new SIM activations, which are important contributors
to both prepaid and postpaid growth. Home has experienced reduced churn and a continuation of new installations, but B2B has seen
a significant impact with reduced collections and increased requests for service suspensions among small and mid-sized business
(SMB) clients.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1, we continued
to upgrade Home customers, as HFC customer relationships increased 10.8% with the addition of 32,000 HFC customer relationships
during the quarter, broadly in line with trends seen in 2019. Total customer relationships grew 2.6%, as growth in HFC more than
offset by churn from customers on our copper network. In mobile, subscriber net additions were negative 286,000 due largely to
the impact of the lock-down that was imposed in mid-March. Still, our mobile customer base remained up 1.8% year-on-year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Service revenue decreased
9.8% during the quarter, impacted by the depreciation of the Colombian peso. Organic service revenue increased 1.2% year-on-year
in Q1 2020, as mid-single digit growth in our home business was offset by declines in our mobile and B2B businesses. The decline
in our mobile business largely reflects lower wholesale revenue.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">EBITDA decreased 12.8% in
U.S. dollar terms and decreased 2.3% organically to $119 million in Q1 2020, as our results were impacted by costs fixed in dollars,
such as programming costs, which were affected by the depreciation of the Colombian peso, as well as the decline in wholesale revenue.
As a result, our EBITDA margin worsened 1.5 percentage points to 33.3% in Q1 20 compared to 34.8% in Q1 19.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Paraguay</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers (&lsquo;000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,478</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,218</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* (&lsquo;000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">443</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">419</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.9%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">142</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">154</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(7.7)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.9)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(3.2)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>2.3 pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">134</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">146</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8.3)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(1.5)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.6)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.9) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">76</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(16.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(10.0)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(7.5)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.5) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.9%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">49.4%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(4.5) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">In response to COVID-19, Paraguay
has been on total quarantine since March 20, and this has been extended until at least late April. Store closures have been impacting
prepaid top-ups and new customer acquisitions. Digital top-ups and the use of Tigo Money have grown considerably since the onset
of the lock-down, and the government is using Tigo Money and other competing platforms to disburse cash to citizens throughout
this period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">During Q1 2020, mobile customer
net additions were negative 18,000 due in part to COVID-19 and to intense competition seen at the beginning of the quarter. Still,
our customer base remained 8.1% higher year-on-year, and 44% of our mobile customers use our 4G network. Our Home customer relationships
grew 5.9% during the quarter, while the number of customers on our HFC network accelerated, as we continue to upgrade customers
from our UHF network.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">Service revenue declined 8.3%
impacted by the 6.8% depreciation of the Paraguayan guarani year-on-year. On an organic basis, service revenue declined 1.5%, reflecting
strong home performance offset by weaker performance in our mobile business, where year-on-year growth nonetheless improved as
compared to Q4 2019. EBITDA decreased 16.1% in dollar terms and 10.0% organically in the quarter reflecting lower revenue and increased
commercial activity. The EBITDA margin remains as one of our highest at 44.9% albeit a notable decline compared to 49.4% in Q1
2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Bolivia</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers (&lsquo;000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,780</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,610</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.7%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* (&lsquo;000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">535</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">425</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">25.9%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">158</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">158</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.2)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.2)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>11.7%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(11.9) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">155</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">154</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.4%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>0.4%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>12.1%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(11.7) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">62</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">63</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.1)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>20.9%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(23.0) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39.3%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40.1%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.8) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">During Q1 2020, economic activity
began to gradually recover from the social unrest that marked Q4 2019. However, this came to halt on March 25, when Bolivia implemented
a strict quarantine, restricting the movement of people to once a week. Among all of our country operations, Bolivia has been one
of the most severely impacted by mobility restrictions. The mobile business has been affected by store closings and by the reduced
number of points of sales for top-ups. We continued to expand our Home network, but at a moderating rate. Finally, collections
have been under greater pressure than elsewhere as a result of regulation that has limited our ability to collect from customers
who can afford to pay. We are hopeful that the implementation of our lifeline service, which we hope to implement soon subject
to approval, may help to mitigate the impact that the strict lock-down has had to date on our business and collections.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">In Q1 2020 in our Home business,
we added 25,000 net customer relationships to reach 535,000 customers and driving solid revenue growth both year-on-year and sequentially
compared to Q4 2019. In Mobile, we added 64,000 subscribers during the quarter, mostly in the prepaid business, but ARPU remained
under pressure due to market conditions, causing our mobile service revenue to decline high-single digits during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">Q1 20 service revenue was flat,
growing 0.4% year-on-year supported by strong growth in Cable, offset by the decline in Mobile. EBITDA declined 2.1% year-on-year,
and the margin decreased 0.8 percentage points to 39.3% compared to 40.1% in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>CENTRAL AMERICA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Guatemala</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10,708</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10,894</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.7)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">533</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">498</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.0%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">369</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">343</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.6%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>6.9%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>7.5%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.6) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">319</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">303</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.4%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>4.8%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>7.0%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.2) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">194</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">190</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.2%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>1.6%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>7.4%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(5.8) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">52.5%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">55.3%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.8) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Guatemala, the government
has implemented mobility restrictions that have been less disruptive to our distribution channel than what we have seen in other
markets. Measures include a nightly curfew, as well as restrictions on public gatherings and face-mask usage requirements. As a
result, most of our stores and points of sales have remained open, but foot traffic and overall activity levels have nonetheless
declined considerably, as many citizens are opting to stay home.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Q1 2020, customer growth
was modestly impacted by the pandemic, but our Guatemala business continued to perform well in both Mobile and Cable. The number
of Mobile customers fell 1.7% to 10.7 million, but ARPU increased mid-single-digits organically. In Cable, we ended Q1 2020 with
533,000 customer relationships, an increase of 7.0% year-on-year, with net additions of 13,000 in the quarter. Home ARPU was also
up mid-single-digits on an organic basis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Service revenue grew 5.4%
in dollars and 4.8% organically, an improvement from 3.7% growth in Q4 2019. EBITDA increased 2.2% (1.6% organically), and the
margin was 52.5%, a decrease of 2.8 percentage points compared to 55.3% reported in Q1 2019, due to higher selling and marketing
and network maintenance costs in the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Honduras</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,588</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,700</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.4)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">176</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">167</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.5%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">141</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">147</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.0)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.9)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>5.0%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(7.8) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">133</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">138</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.5)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(2.3)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>3.1%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(5.4) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">66</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(3.0)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>4.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(7.3) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45.1%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45.2%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.1) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Honduras was quick to respond
to COVID-19, implementing mandatory home isolation beginning on March 14, and closing its borders the next day. As a result, the
majority of our stores and many of our prepaid points of sales have been closed since mid-March, severely impacting our prepaid
top-ups and new sales. Honduras was one of the first countries where we implemented our lifeline products, to help keep our customers
and communities connected during the pandemic. On a very gradual basis, we have introduced new and creative ways of reaching our
customers, and usage on our Tigo Money platform has grown very rapidly.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Given the severity of the
lock-down, the impact of COVID-19 on our Q1 performance was more material in Honduras than in our other markets. Mobile net additions
were negative 51,000, taking our customer base 2.4% lower year-on-year, although our postpaid customer base sustained its healthy
growth trend. In Home, network and customer metrics remained flat from Q4 levels, and ARPU growth remained positive in local currency
terms.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Service revenue decreased
3.5% year-on-year, reflecting a 1.2% depreciation of the Honduran lempira and organic growth of -2.3%, due to a slowdown in our
Mobile and B2B units, as growth in Home remained healthy at close to 10% year-on-year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">EBITDA decreased 4.1% in
dollars and 3.0% on an organic basis. The margin was flat, declining 0.1 percentage points to 45.1%, compared to the EBITDA margin
of 45.2% in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Panama</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="vertical-align: bottom; width: 52%; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>% change</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,776</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* ('000)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">440</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">459</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.2)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">152</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">100</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">52.6%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth**</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(5.2)%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>4.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(9.5) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">148</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">100</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">48.4%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth**</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(5.2)%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>4.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(9.5) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">69</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">55.9%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth**</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>1.0%</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>8.3%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(7.3) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44.6%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>1.0 pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others. ** Q1 20 organic growth rates pertain to both the fixed and mobile operations and are calculated using
the 2019 financials of Telefonica Moviles Panama S.A., which was acquired in August 2019. Q1 2019 organic growth rates are calculated
using the 2018 financials as reported by Cable Onda to the Panama Stock Exchange.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Panama is the country with
the highest number of confirmed COVID-19 cases in our markets. The government implemented a strict home isolation quarantine beginning
on March 25 and announced that all businesses and commercial establishments must be closed. The immediate impact of these measures
was a spike in service cancellation requests from our SMB clients, as well as a sharp drop in prepaid top-ups, which in Panama
(and Bolivia) is still based on scratch cards that require a physical distribution network. On the bright side, demand for our
Home services picked up noticeably.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, customer
relationships on our HFC network increased both year-on-year and quarter-on-quarter, and we added more than 20,000 RGUs, marking
our best commercial performance by far since our acquisition of Cable Onda in December 2018. Home ARPU was stable compared to both
Q4 2019 and Q1 2019. In Mobile, both our customer base and ARPU were broadly stable compared to Q4 2019, as the lock-down implemented
beginning in late March largely offset the good commercial momentum we have enjoyed since our acquisition of this business in August
2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Service Revenue in Q1 2020
was $148 million, up significantly from $100 million in Q1 2019 due to the acquisition of our mobile business in August 2019. On
an organic basis, service revenue decreased 5.2% year-on-year, mostly due to a double-digit decline in B2B due to the completion
of non-recurring projects over the past year and to lower levels of wholesale activity. Inter-company eliminations also explained
almost a 1 percentage point reduction in organic growth in our B2B segment, which was also affected somewhat by COVID-19 in the
period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">EBITDA was $69 million,
up from $44 million in Q1 2019 due to contribution from our newly-acquired mobile business. On an organic basis, EBITDA grew 1.0%
year-on-year, as we continue to execute on our merger integration plans to unlock synergies, which are ahead of our plans, especially
as it relates to capex. The EBITDA margin increased 1.0 pt year-on-year to reach 45.6%, the second-highest margin in the Group.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>El Salvador</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,530</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,494</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home customer relationships* ('000)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">273</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">274</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.3)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">96</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">96</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.6)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.6)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(6.9)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>6.3 pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">88</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">88</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.9)%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.9)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(7.6)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>6.7 pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.7%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-left: Black 1pt solid; text-indent: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Organic growth</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>0.7%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(13.9)%</I></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>14.6 pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37.0%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">36.5%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>0.5 pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><I>* Home Customer Relationships includes (1)
HFC (2) DTH (3) Others.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">The government of El Salvador
took early action to limit the spread of COVID-19, implementing a nationwide quarantine on March 14, at a time when the country
had no confirmed cases. A strict residential quarantine remains in place today. The President also announced several fiscal measures
related to COVID-19, including a three-month deferral of utility bills, including telecommunications services, allowing subscribers
affected by the pandemic to pay for services over the next two years. We are hopeful that the implementation of our lifeline product
during April will allow us to keep affected customers connected during this time of need, while also providing an incentive for
our other customers to continue to pay us in a timely manner for the services they have contracted from us.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Mobile, most of our stores
have remained open throughout the lock-down, but its impact has caused a drop of approximately 90% in foot traffic in our stores.
In addition, about 20% of our points of sales are closed, which is impacting both prepaid top-ups and new sales.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, our operations
in El Salvador performed well, especially in light of the severity and early timing of the lock-down. Our mobile customer base
declined by 34,000, but the postpaid base and ARPU were stable compared to Q4 2019. In Home, customer metrics remained broadly
stable, in line with recent trends, but we continued to cross-sell effectively, driving approximately 7% year-on-year growth in
RGUs on our HFC network.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Our financial performance
continued to show signs of recovery. Service revenue of $88 million during the quarter marks a slight improvement compared to $87
million in Q4 and $86 million in Q3 of 2019. Even with the challenges stemming from the lock-down, our network deployment remains
on track, as we take advantage of recently-acquired spectrum to add much needed capacity to our network at this critical time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">On a year-on-year basis,
service revenue was down 0.9%, an improvement from the 4.4% decline seen in Q4 2019, and our best quarterly result in over two
years. EBITDA was also nearly flat, increasing 0.7% year-on-year, as good control more than offset the slight decline in revenue
over the past year. The EBITDA margin improved by 0.5 pt to 37.0%, up from 36.5% in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Nicaragua &amp; Costa Rica</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="vertical-align: bottom; width: 52%; border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>% change</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers ('000)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,456</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">96</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">41</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">92</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA ($ millions)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA margin %</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">30.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">32.3%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(1.5) pt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Nicaragua, the government
has not implemented any measures to restrict mobility and business activity, and thus all of our stores and prepaid points of sales
remain open, although we have witnessed a sharp reduction in foot traffic, especially during April. During Q1 2020, we continued
to add customers in both our Mobile and Home businesses, but service revenue declined slightly year-on-year due to ARPU erosion
in Mobile.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Costa Rica, the government
responded to the pandemic by implementing a curfew on vehicular movements, and closing national parks, beaches and churches around
the country. However, as a provider of essential services, our stores have remained to date. During the quarter, customer churn
increased noticeably, initially due to the creation of a rival soccer Pay-TV channel, a challenge later compounded by the suspension
of league play due to the pandemic. As a result, service revenue and EBITDA both declined on a year-on-year during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Africa segment - Key
Performance Indicators*</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="white-space: nowrap; width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Key Performance Indicators (&lsquo;000)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20 vs Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11,727</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">12,487</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">MFS customers</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,230</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,914</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(9.9)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile ARPU ($)</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.3</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.4</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.5)%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>* The comparative 2018 financial
information in this earnings release has been adjusted for the classification of our operations in Chad as discontinued operations.
Our operations in Chad were disposed of on June 26, 2019.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">Our Africa segment operations
comprise Tanzania, including Zantel. With the view of completing an initial public offering on the Dar es Salaam Stock Exchange,
we completed the merger of our operations in the country, and Millicom Tanzania acquired all of the shares of Zantel in Q4 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, mobile customers
declined 6.1%, ending the period with 11.7 million. In January 2020 stricter biometric customer registration requirements were
implemented as mandated by the government, and dampened our customer growth during the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Q1 2020, the number of
customers that used mobile financial services (MFS) was 6.2 million, a 9.9% decrease from Q1 2019, as growth of our MFS customer
base was also impacted by the new mobile customer registration requirements being implemented. As of March&nbsp;31, 2020, our MFS
customers represent approximately 53% of our Mobile customer base. ARPU declined 2.5%, due mostly to a reduction in regulated interconnection
rates.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Africa segment financial
results</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>Please refer to Note 5 of
our Unaudited Interim Condensed Consolidated Financial Statements for more details on our segments.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Africa Financial Highlights</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019<SUP>i</SUP></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 16%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><I>% change</I></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($m, unless otherwise stated)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Revenue</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">89</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">94</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.6)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Service revenue</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">89</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">93</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.6)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA<SUP>iii</SUP></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">30</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">31</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.8)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">EBITDA<SUP>iii</SUP> margin %</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.2%</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.6%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: #44546A 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(0.4) pt</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Capex<SUP>iii</SUP></FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD>
    <TD STYLE="border-right: #44546A 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(23.4)%</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000640"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>i)</I></TD><TD><I>2019 numbers have been restated to exclude Chad.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000640"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>ii)</I></TD><TD><I>Organic YoY in local currency and constant perimeter to exclude Chad for all periods.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #000640"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>iii)</I></TD><TD><I>Organic growth, EBITDA and Capex are non-IFRS measures. See page 23 for a description of non-IFRS measures and for reconciliations
to the nearest equivalent IFRS measures. 2019 EBITDA has been re-presented as a result in the change in cost allocation. Please
refer to page 9 for a description and reconciliation of this representation.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">In Tanzania, the government
has not implemented any official quarantine related to COVID-19, but school has been suspended, international flights have been
canceled, and people have been advised to refrain from gathering and are encouraged to use masks. Still, many citizens are choosing
to stay at home, and we have witnessed a significant drop in foot traffic in commercial establishments, which has affected mobile
top-ups. More than half of top-ups are already digital, which has mitigated the impact somewhat. The reduced mobility and commercial
activity stemming from the pandemic has also affected our MFS business due to a drop in transactions and by the decline in remittances.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">During Q1 2020, service
revenue declined -4.6% due to the decline in our customer base following the implementation of a biometric customer registration
system. In addition, a 50% cut to regulated interconnection rates impacted ARPU. As a result, EBITDA decreased 5.8% year-on-year
due to the decline in revenues. EBITDA margin was roughly flat, decreasing 0.4 percentage points year-on-year to 33.2%, compared
to 33.6% in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #828282">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #828282">Capex during Q1 2020 was $5 million, a decrease
of $2 million compared to $7 million in Q1 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #828282">&nbsp;</P>


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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Corporate Responsibility highlights &ndash;
Q1 2020</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Responsible Leadership
in Action: adapting our programs to the Covid-19 pandemic</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">We are working with key NGO
and government partners to help local communities meet the challenges and opportunities presented by the COVID-19 pandemic through
the digital transformation of our flagship programs, while providing the resources that communities need during the crisis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><B><U>Protecting Children</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">Responding to the COVID-19
pandemic, we have worked with UNICEF to distribute key messages to our customers on health, safety, online education, healthy family
life and the responsible use of the internet while living in quarantine. Our operations are supporting UNICEF&rsquo;s &ldquo;Learning
at Home&rdquo; campaign. We are also engaging the ministries of education in our countries of operation with UNICEF to support
their plans for virtual education for the rest of the 2020 school year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">In Bolivia, we partnered educational
experts and civil society to train 55,000 teachers on digital education tools which will also provide them with a certificate on
Digital Education issued by the Ministry of Education. In Colombia, we are taking our Conectate Segur@ content and adapting it
to a communications campaign through our social media channels and our Cyber-Conscious webpage to reach adolescents and parents
to promote the safe and productive use of technology.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><B><U>Empowering Women</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">We are transitioning to virtual
trainings for empowering women. Initial pilots are underway in Guatemala, Costa Rica and El Salvador. We will also expand the program
throughout the region to help women navigate through current changes at home and work, maintain their physical and psychological
health and prepare for changes to their lives after the crisis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Health, safety and environment</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">With the emergence of the COVID-19
pandemic, Millicom&rsquo;s Executive Team and the Health &amp; Safety function are working hand-in-hand with our country operations
to ensure the safety of our people as well as continuity of our critical services for the communities we serve. In late February,
we activated our Group Crisis Management Team (&quot;CMT&quot;) led by our CEO and comprised of the Executive Team and the Head
of Security &amp; Crisis Management. Additionally, we activated CMTs in each country to monitor and actively manage daily developments
relating to COVID-19 in operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">The health and safety of our
workforce and customers during the COVID-19 pandemic have been a top priority this quarter. For this reason, we have implemented
new workforce management guidelines designed to keep our employees safe while ensuring business continuity for critical operations.
The vast majority of our employees in every country of operations are now working from the safety of their homes. For those employees
in critical roles that cannot work remotely, we have implemented strict health and safety processes to include social distancing,
reduction in permitted occupancy levels at our facilities and stores, as well as increased cleaning and sanitation of critical
infrastructure workspaces. Additionally, we have provided our customer facing employees with personal protection equipment (facial
masks, latex gloves, disinfectant for tools) to protect them and our customers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">During this reporting period,
no fatalities were recorded.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Compliance and anti-corruption
program</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">During Q1, we reinforced our
commitment to our Ethics &amp; Compliance Program by initiating the implementation of the 2020 gateway Compliance KPI, which impacts
executive remuneration in all local operations. The 2020 Compliance Communication and Training plan was launched in Q1 as well.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">A task force has been created
to track all COVID-19 contribution requests and ensure that we continue operating with integrity during the crisis. All requests,
including time-sensitive requests from Public Institutions, the private sector, and NGOs, are thoroughly analyzed against our policies,
due diligence processes and controls, and are recorded.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">We continue integrating our
Ethics and Compliance Program and related infrastructure into the companies acquired in 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">As part of our Third-Party
Management Program, we continue working on the Due Diligence platform and integrated processes, to ensure enhancement of our risk-based
onboarding screening and ongoing monitoring of our vendors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Conference call details</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">A presentation and conference
call to discuss these results will take place on April 30, 2020 at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami). Please dial
in 5-10 minutes before the scheduled start time to register your attendance. Dial-in numbers for the call are as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; width: 12%; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">Sweden:</FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 29%; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">+46 (0) 8566 18467&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 15%; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">Luxembourg:</FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 44%; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">+352 2786 0549</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">UK:</FONT></TD>
    <TD STYLE="padding-top: 4pt; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">+44 (0) 8444 819752</FONT></TD>
    <TD STYLE="padding-top: 4pt; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">US:</FONT></TD>
    <TD STYLE="padding-top: 4pt; text-align: justify; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">+1 646 741 3167</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">The access code is: 2382113</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">A live audio stream, presentation slides, and replay
information can be accessed at www.millicom.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Financial calendar</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-left: #44546A 1pt solid; border-bottom: Black 1pt solid; border-right: #44546A 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Date</B></FONT></TD>
    <TD STYLE="width: 86%; border-top: Black 1pt solid; border-right: #44546A 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Event</B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">April 30</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">Q1 2020 results and conference call</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">June 25</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">AGM</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">July 30</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">Q2 2020 results and conference call</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">October 30</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: gray">Q3 2020 results and conference call</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>For further information, please contact</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; width: 45%; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Press:</B></FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 55%; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Investors:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">Vivian Kobeh, Corporate Communications Director</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">Michel Morin, VP Investor Relations</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">+1 (786) 628-5300</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">+1 (786) 628-5270</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">press@millicom.com</FONT></TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">investors@millicom.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">Sarah Inmon, Investor Relations Manager</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">+1 (786) 628-5303</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">investors@millicom.com</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>About Millicom</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">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 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt"><B>Forward-Looking
Statements</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">Statements included herein
that are not historical facts, including without limitation statements concerning future strategy, plans, objectives, expectations
and intentions, projected financial results, liquidity, growth and prospects, are forward-looking statements. Such forward-looking
statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties
materialize, Millicom&rsquo;s results could be materially adversely affected. In particular, there is uncertainty about the spread
of the COVID-19 virus and the impact it may have on Millicom's operations, the demand for Millicom's products and services, global
supply chains and economic activity in general. The risks and uncertainties include, but are not limited to, the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>global economic conditions and foreign exchange rate fluctuations as well as local economic conditions in the markets we serve;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>potential disruption due to diseases, pandemics, political events, piracy or acts by terrorists, including the impact of the
recent outbreak of the COVID-19 virus and the ongoing efforts throughout the world to contain it;&#9;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>telecommunications usage levels, including traffic and customer growth;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>competitive forces, including pricing pressures, the ability to connect to other operators&rsquo; networks and our ability
to retain market share in the face of competition from existing and new market entrants as well as industry consolidation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>legal or regulatory developments and changes, or changes in governmental policy, including with respect to the availability
of spectrum and licenses, the level of tariffs, tax matters, the terms of interconnection, customer access and international settlement
arrangements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>adverse legal or regulatory disputes or proceedings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the success of our business, operating and financing initiatives and strategies, including partnerships and capital expenditure
plans;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the level and timing of the growth and profitability of new initiatives, start-up costs associated with entering new markets,
the successful deployment of new systems and applications to support new initiatives;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>relationships with key suppliers and costs of handsets and other equipment;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our ability to successfully pursue acquisitions, investments or merger opportunities, integrate any acquired businesses in
a timely and cost-effective manner and achieve the expected benefits of such transactions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the availability, terms and use of capital, the impact of regulatory and competitive developments on capital outlays, the ability
to achieve cost savings and realize productivity improvements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>technological development and evolving industry standards, including challenges in meeting customer demand for new technology
and the cost of upgrading existing infrastructure;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the capacity to upstream cash generated in operations through dividends, royalties, management fees and repayment of shareholder
loans; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>other factors or trends affecting our financial condition or results of operations.&#9;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">A further list and description
of risks, uncertainties and other matters can be found in Millicom&rsquo;s Registration Statement on Form 20-F, including those
risks outlined in &ldquo;Item 3. Key Information&mdash;D. Risk Factors,&rdquo; and in Millicom&rsquo;s subsequent U.S. Securities
and Exchange Commission filings, all of which are available at www.sec.gov. To the extent COVID-19 adversely affects Millicom's
business and financial results, it may also have the effect of heightening many of the risks described in its filings.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">All forward-looking statements
attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. Readers
are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Except to
the extent otherwise required by applicable law, we do not undertake any obligation to update or revise forward-looking statements,
whether as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>


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<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><FONT STYLE="font-size: 12pt"><B>Non
IFRS Measures</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">This press release contains
financial measures not prepared in accordance with IFRS. These measures are referred to as &ldquo;non-IFRS&rdquo; measures and
include: non-IFRS service revenue, non-IFRS EBITDA, and non-IFRS Capex, among others defined below. Annual growth rates for these
non-IFRS measures are often expressed in organic constant currency terms to exclude the effect of changes in foreign exchange rates,
the adoption of new accounting standards such as IFRS 16, and are proforma for material changes in perimeter due to acquisitions
and divestitures. The non-IFRS financial measures are presented in this press release as Millicom&rsquo;s management believes they
provide investors with an additional information for the analysis of Millicom&rsquo;s results of operations, particularly in evaluating
performance from one period to another. Millicom&rsquo;s management uses non-IFRS financial measures to make operating decisions,
as they facilitate additional internal comparisons of Millicom&rsquo;s performance to historical results and to competitors' results,
and provides them to investors as a supplement to Millicom&rsquo;s reported results to provide additional insight into Millicom&rsquo;s
operating performance. Millicom&rsquo;s Remuneration Committee uses certain non-IFRS measures when assessing the performance and
compensation of employees, including Millicom&rsquo;s executive directors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">The non-IFRS financial measures
used by Millicom may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by
other companies - refer to the section &ldquo;Non-IFRS Financial Measure Descriptions&rdquo; for additional information. In addition,
these non-IFRS measures should not be considered in isolation as a substitute for, or as superior to, financial measures calculated
in accordance with IFRS, and Millicom&rsquo;s financial results calculated in accordance with IFRS and reconciliations to those
financial statements should be carefully evaluated.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Financial Measure Descriptions</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Service
revenue</B></FONT> <FONT STYLE="color: #808285">is revenue related to the provision of ongoing services such as monthly subscription
fees, airtime and data usage fees, interconnection fees, roaming fees, mobile finance service commissions and fees from other telecommunications
services such as data services, short message services and other value-added services excluding telephone and equipment sales.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>EBITDA</B></FONT>
<FONT STYLE="color: #808285">is operating profit excluding impairment losses, depreciation and amortization, and gains/losses on
fixed asset disposals.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Proportionate
EBITDA</B></FONT> <FONT STYLE="color: #808285">is the sum of the EBITDA in every country where Millicom operates, including its
Guatemala and Honduras joint ventures, pro rata for Millicom&rsquo;s ownership stake in each country, less corporate costs that
are not allocated to any country and inter-company eliminations.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Organic
growth</B></FONT> <FONT STYLE="color: #808285">represents year-on-year growth excluding the impact of changes in FX rates, perimeter,
and accounting. Changes in perimeter are the result of acquisitions and divestitures. Results from divested assets are immediately
removed from both periods, whereas the results from acquired assets are included in both periods at the beginning (January 1) of
the first full calendar year of ownership.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Net debt</B></FONT>
<FONT STYLE="color: #808285">is Gross debt less cash and pledged and term deposits.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Net financial
obligations</B></FONT> <FONT STYLE="color: #808285">is Net debt plus lease obligations.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Proportionate
net financial obligations</B></FONT> <FONT STYLE="color: #808285">is the sum of the net financial obligations in every country
where Millicom operates, including its Guatemala and Honduras joint ventures, pro rata for Millicom&rsquo;s ownership stake in
each country.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Leverage</B></FONT>
<FONT STYLE="color: #808285">is the ratio of net financial obligations over LTM (last twelve month) EBITDA, proforma for acquisitions
made during the last twelve months.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Proportionate
leverage</B></FONT> <FONT STYLE="color: #808285">is the ratio of proportionate net financial obligations over LTM proportionate
EBITDA, proforma for acquisitions made during the last twelve months.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Capex</B></FONT>
<FONT STYLE="color: #808285">is balance sheet capital expenditure excluding spectrum and license costs and finance lease capitalizations
from tower sale and leaseback transactions.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Cash Capex</B></FONT>
<FONT STYLE="color: #808285">represents the cash spent in relation to capital expenditure, excluding spectrum and licenses costs
and lease capitalizations from tower sale and leaseback transactions.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Operating
Cash Flow (OCF)</B></FONT> <FONT STYLE="color: #808285">is EBITDA less Capex.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Operating
Free Cash Flow</B></FONT> <FONT STYLE="color: #808285">is OCF less changes in working capital and other non-cash items and taxes
paid.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Equity Free
Cash Flow</B></FONT> <FONT STYLE="color: #808285">is Operating Free Cash Flow less finance charges paid (net), less advances for
dividends to non-controlling interests, plus dividends received from joint ventures.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Operating
Profit After Tax</B></FONT> <FONT STYLE="color: #808285">displays the profit generated from the operations of the company after
statutory taxes.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Return on
Invested Capital (ROIC)</B></FONT> <FONT STYLE="color: #808285">is used to assess the Group&rsquo;s efficiency at allocating the
capital under its control to and is defined as Operating Profit After Tax, including Guatemala and Honduras as if fully consolidated,
divided by the average invested Capital during the period.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Average
Invested Capital</B></FONT> <FONT STYLE="color: #808285">is the capital invested in the company operation throughout the year and
is calculated with the average of opening and closing balances of the total assets minus current liabilities (excluding debt, joint
ventures, accrued interests, deferred and current tax, cash as well as investments and non-controlling interests), less assets
and liabilities held for sale.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Underlying</B></FONT>
<FONT STYLE="color: #808285">measures, such as</FONT> <FONT STYLE="color: #001F5F"><B>Underlying service revenue</B>, <B>Underlying
EBITDA</B>, <B>Underlying equity free cash flow</B>, <B>Underlying net debt, Underlying leverage,</B></FONT> <FONT STYLE="color: #808285">etc.,
include Guatemala and Honduras, as if fully consolidated.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 34pt 0pt 0; text-align: justify"><FONT STYLE="color: #001F5F"><B>Average
Revenue per User per Month (&ldquo;ARPU&rdquo;)</B></FONT> <FONT STYLE="color: #808285">for our Mobile customers is (x) the total
mobile and mobile financial services revenue (excluding revenue earned from tower rentals, call center, data and mobile virtual
network operator, visitor roaming, national third parties roaming and mobile telephone equipment sales revenue) for the period,
divided by (y) the average number of mobile subscribers for the period, divided by (z) the number of months in the period. We define
ARPU for our Home customers in our Latin America segment as (x) the total Home revenue (excluding equipment sales, TV advertising
and equipment rental) for the period, divided by (y) the average number of customer relationships for the period, divided by (z)
the number of months in the period. ARPU is not subject to a standard industry definition and our definition of ARPU may be different
to other industry participants.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 34pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 34pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B><I>Please refer to our
Annual Report for a complete list of non-IFRS measures and their descriptions.</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>


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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Non-IFRS Reconciliations</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Reconciliation from Reported Growth to Organic
Growth for the Latam segment<SUP>i</SUP></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam Segment ($ millions)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Revenue</U></B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Service Revenue</U></B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>EBITDA</U></B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>OCF</U></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 36%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">A- Current period</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,504</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,426</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,395</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,331</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">600</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">427</FONT></TD>
    <TD STYLE="width: 8%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">419</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">B- Prior year period</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,426</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,353</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,331</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,259</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">518</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">419</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">366</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">C- Reported growth (A/B)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.5%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.4%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.8%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.8%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.3%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13.4%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.9%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">14.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">D- Accounting change impact</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">11.5%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">E- Change in Perimeter impact</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8.0%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.6%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.8%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.5%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">10.3%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.2%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">F- FX impact</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.5)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.6)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.5)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.6)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.1)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.7)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.4)%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8.0)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">G- Other</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.1)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.1)%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.6)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">H- Organic Growth (C-D-E-F-G)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.9%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.5)%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.9)%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.3%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Reconciliation from Reported Growth to Organic
Growth for the main Latam markets</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 37%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Service Revenue ($ millions)</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Organic</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FX</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Perimeter</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Other</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Reported</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">319</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">303</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.8%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.6%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">332</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">368</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.2%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(10.9)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.1)%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(9.8)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Paraguay</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">134</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">146</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.5)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.8)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8.3)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">133</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">138</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.3)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.3)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.5)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Bolivia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">155</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">154</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.4%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Panama</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">148</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.2)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">56.5%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.9)%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">48.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">El Salvador</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">88</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">88</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.9)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.9)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Nicaragua, Costa Rica &amp; Eliminations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">87</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Latam*</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,395</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,331</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>0.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(3.5)%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>8.1%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>4.8%</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>* Perimeter impact on Latam segment reflects
acquisition of mobile businesses in Panama and Nicaragua during 2019.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 27%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA ($ millions)</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2019</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Organic</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>FX</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Accounting</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Perimeter</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Other</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Reported</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">194</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">190</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.6%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.6%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.2%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">119</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">136</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.3)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(10.7)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.2%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(12.8)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Paraguay</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">76</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(10.0)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.8)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.6%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(16.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">64</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">66</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3.0)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.3)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Bolivia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">62</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">63</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.1)%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.1)%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Panama</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">69</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1.0%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">54.4%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.5%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">55.9%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">El Salvador</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">35</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.7%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.7%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Nicaragua, Costa Rica, Corp Costs &amp; Eliminations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(25)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NM</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Latam*</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>600</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>587</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(2.5)%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(3.1)%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7.8%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>0.1%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2.3%</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>* Perimeter impact on Latam segment reflects
acquisition of mobile businesses in Panama and Nicaragua during 2019.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><SUP>i</SUP></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">See</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>Note 5 of our Unaudited Interim Condensed Consolidated
Financial Statements for details on our segments.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>ARPU reconciliations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 74%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam Segment - Mobile ARPU Reconciliation</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile service revenue ($m)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">843</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">778</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Mobile Service revenue ($m) from non Tigo customers ($m) *</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(12)</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(19)</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile Service revenue ($m) from Tigo customers (A)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">831</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">759</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers - end of period (000)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39,449</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33,891</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile customers - average (000) (B) **</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39,647</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33,791</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Mobile ARPU (USD/Month) (A/B/number of months)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.5</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>* Refers to TV advertising, production services,
MVNO, DVNO, equipment rental revenue, call center revenue, national roaming, equipment sales, visitor roaming, tower rental, DVNE,
and other non-customer driven revenue.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>** Average QoQ for the quarterly view is the
average of the last quarter.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 74%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam Segment - Home&nbsp;&nbsp;ARPU Reconciliation</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home service revenue ($m)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">384</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">376</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Home service revenue ($m) from non Tigo customers ($m) *</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(8)</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>(9)</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home service revenue ($m) from Tigo customers (A)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">376</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">367</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Customer Relationships - end of period (000) **</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,391</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,187</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Customer Relationships - average (000)&nbsp;&nbsp;(B) ***</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,366</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,126</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Home ARPU (USD/Month) (A/B/number of months)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">28.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">29.5</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>* TV advertising, production services, equipment
rental revenue, call center revenue, equipment sales and other non customer driven revenue.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>** Represented by homes connected all technologies
(HFC + Other Technologies + DTH &amp; Wimax RGUs).</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><I>*** Average QoQ for the quarterly view is the
average of the last quarter.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>One-off Summary</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 27%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 2020 ($ millions)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Revenue</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA</B></FONT></TD>
    <TD STYLE="width: 49%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Comment</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Nicaragua</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(8)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Municipal withholding tax on acquisition</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Latam Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(8)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Foreign Exchange rates used to support FX
impact calculations in the above Organic Growth reconciliations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #000640">
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Average FX rate (vs. USD)</U></B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>End of period FX rate (vs. USD)</U></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 19</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>QoQ</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>YoY</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q4 19</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>QoQ</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>YoY</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Bolivia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">BOB</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.0%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.0%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.0%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6.91</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.0%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">COP</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,573</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,413</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.5)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,165</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(11.4)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4,065</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,277</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(19.4)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,175</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(21.9)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Costa Rica</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">CRC</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">577</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">578</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.1%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">607</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.1%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">576</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.0)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">599</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2.0%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">GTQ</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.68</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.71</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.4%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.72</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.5%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.68</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.70</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.2%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7.68</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.1)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">HNL</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.77</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.72</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.2)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.47</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.2)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.84</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.72</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.5)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24.52</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.3)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Nicaragua</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">NIO</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.96</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.70</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.8)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">32.53</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(4.2)%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">34.09</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">33.84</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.7)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">32.33</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.2)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Paraguay</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">PYG</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,514</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,434</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.2)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,071</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(6.8)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,563</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,453</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.7)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,181</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(5.8)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Ghana</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">GHS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.61</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.53</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1.4)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.10</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(9.1)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.76</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5.73</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.5)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4.40</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(23.6)%</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Tanzania</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">TZS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,300</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,297</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.2)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,318</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">0.8%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,301</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,299</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(0.1)%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,256</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2.0)%</FONT></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Reconciliation Net financial obligations to
EBITDA to Proportionate net financial obligations to EBITDA as of March&nbsp;31, 2020 and December 31, 2019</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Debt Information - March 31, 2020</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Financial obligations</U></B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>EBITDA</U></B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Proforma</U></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>$ millions</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Gross</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Net</B></FONT></TD>
    <TD STYLE="width: 9%; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Adjustments*</B></FONT></TD>
    <TD STYLE="width: 9%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA</B></FONT></TD>
    <TD STYLE="width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Leverage</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Millicom Group (IFRS)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,378</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,547</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5,831</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,542</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Plus: Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,168</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">150</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,018</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">752</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Plus: Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">421</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">52</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">370</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">277</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: Corporate Costs</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(37)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Underlying Millicom Group (Non-IFRS)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>8,967</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,749</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,219</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,535</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>46</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,581</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2.80x</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 50% Minority Stake in Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">509</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">66</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">443</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">246</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 45% Minority Stake in Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">526</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">68</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">458</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">339</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 33% Minority Stake in Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">140</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">17</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">123</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">92</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 20% Minority Stake in Panama</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">200</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">15</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">186</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 1.5% Minority Stake in Tanzania</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Proportionate Millicom Group (Non-IFRS)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,585</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,582</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>6,003</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,807</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>38</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,845</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>3.25x</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>* Proforma adjusted EBITDA
related to mobile acquisitions in Nicaragua and Panama.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>December 31, 2019</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Financial obligations</U></B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>EBITDA</U></B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B><U>Proforma</U></B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>$ millions</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Gross</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Net</B></FONT></TD>
    <TD STYLE="width: 9%; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Adjustments*</B></FONT></TD>
    <TD STYLE="width: 9%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>EBITDA</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Leverage</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Millicom Group (IFRS)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,036</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,166</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5,870</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,530</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Plus: Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,172</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">189</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">983</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">748</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Plus: Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">423</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">40</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">383</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">280</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: Corporate Costs</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-left: rgb(0,6,64) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(36)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Underlying Millicom Group (Non-IFRS)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>8,631</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,395</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,236</B></FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,522</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>95</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,617</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2.76x</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 50% Minority Stake in Colombia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">606</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">107</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">499</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">255</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 45% Minority Stake in Guatemala</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">528</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">85</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">442</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">337</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 33% Minority Stake in Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">141</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">128</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">93</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 20% Minority Stake in Panama</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">201</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">189</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Less: 1.5% Minority Stake in Tanzania</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Proportionate Millicom Group (Non-IFRS)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7,149</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,177</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5,972</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,791</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>82</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,872</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>3.19x</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>* Proforma adjusted EBITDA
related to mobile acquisitions in Nicaragua and Panama.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Debt maturity profile</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2020</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2021</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2022</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2023</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2024</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2025</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2026</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2027</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2028</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>2029</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>&gt;2030</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">International Bonds</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">1,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">550</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">750</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">600</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>Floating MIC S.A. Sustain. Bond Due 2024*</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">200</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>6.875% Comcel&nbsp;&nbsp;$800m Bond Due 2024</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">800</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>6.000% MIC S.A. $500m Bond Due 2025</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>6.625% MIC S.A. $500m Bond Due 2026</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>5.875% Telecel $550m Bond Due 2027</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">550</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>5.125% MIC S.A. $500m Bond Due 2028</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>6.250% MIC S.A. $750m Bond Due 2029</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">750</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>4.500% Cable Onda $600m Bond Due 2030</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">600</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">Local Bonds (Colombia &amp; Bolivia)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">44</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">46</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">95</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">200</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">15</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">56</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">Bank and DFI</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">72</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">124</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">459</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">441</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">786</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">389</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">32</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">111</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">110</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640">30</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>111</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>168</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>504</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>541</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>1,880</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>1,089</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>632</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>666</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>541</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>875</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B>685</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><B><I>%&nbsp;&nbsp;of Total</I></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>1.4%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>2.2%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>6.6%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>7.0%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>24.4%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>14.2%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>8.2%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>8.7%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>7.0%</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>11.4%</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000640"><I>8.9%</I></FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 35; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Capex Reconciliation</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Capex Reconciliation</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Consolidated:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">108</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">112</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to licenses and other intangibles</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">44</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">26</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which spectrum and license costs</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>21</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&mdash;</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Total consolidated additions</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>153</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>139</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which is capital expenditures related to the corporate offices</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>2</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>1</I></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latin America Segment</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">145</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">137</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to licenses and other intangibles</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">133</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">31</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which spectrum and license costs</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>104</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&mdash;</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Latin America Segment total additions (Underlying)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">278</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">168</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Capex excluding spectrum and lease capitalizations</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>174</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>168</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Africa Segment</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Additions to licenses and other intangibles</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>Of which spectrum and license costs</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&mdash;</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><I>&mdash;</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Africa Segment total additions</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Capex excluding spectrum and lease capitalizations</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>5</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>7</B></FONT></TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Operating Free Cash Flow Reconciliation</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash Flow Data</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net cash provided by operating activities</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>106</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>147</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Purchase of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(179)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(170)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Proceeds from sale of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">9</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Purchase of intangible assets and licenses</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(91)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(79)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Proceeds from sale of intangible assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net purchase/proceeds for property, plant and equipment and intangible assets</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(270)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(240)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(Less) Proceeds from sale of towers part of tower sale and leaseback transactions</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(7)</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(Less) Purchase of spectrum and licenses</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">39</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(Less) Finance charges paid, net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">141</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">95</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Operating free cash flow</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>15</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>Equity Free Cash Flow Reconciliation</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 80%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash Flow Data</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Net cash provided by operating activities</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">106</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">147</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Purchase of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(179)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(170)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Proceeds from sale of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">9</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Proceeds from sale of towers part of tower sale and leaseback transactions</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(7)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Purchase of intangible assets</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(91)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(79)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Proceeds from sale of intangible assets</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Purchase of spectrum and licenses</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">39</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Finance charges paid, net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">141</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">95</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black"><B>Operating free cash flow</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">15</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Interest (paid), net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(141)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(95)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black"><B>Free cash flow</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(126)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(94)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Dividends received from joint ventures (Guatemala and Honduras)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">24</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">51</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Dividends paid to non-controlling interests</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(11)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black"><B>Equity free cash flow</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(102)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">(54)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B>OCF (EBITDA- Capex) Reconciliation</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Latam OCF Underlying</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Latam EBITDA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">587</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(-) Capex (Ex. Spectrum)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">174</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">168</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Latam OCF</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>427</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>419</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 66%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 70%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Africa OCF</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 20</B></FONT></TD>
    <TD STYLE="width: 15%; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Q1 19</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Africa EBITDA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">30</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">31</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(-) Capex (Ex. Spectrum)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Africa OCF</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>24</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>25</B></FONT></TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640"><B><I>Guatemala and Honduras Financial Information
(unaudited)</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray"><I>Until 2015, Millicom group
results included Guatemala and Honduras on a 100% consolidation basis. Since 2016, these businesses are treated as joint ventures
and are consolidated using the equity method. To aid investors to better track the evolution of the company&rsquo;s performance
over time, we provide the following indicative unaudited financial statement data for the Millicom group as if our Guatemala and
Honduras joint ventures had been fully consolidated.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 44%; border: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Income statement data Q1 2020</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Millicom (IFRS)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Guatemala and Honduras JVs</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Eliminations</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Underlying (non-IFRS)</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($millions)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Revenue</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,088</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>505</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,592</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Cost of sales</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(305)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(116)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(421)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Gross profit</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>783</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>389</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,172</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Operating expenses</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(401)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(141)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(542)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>EBITDA</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>382</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>248</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>630</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>EBITDA margin</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>35.1%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>49.1%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #44546A">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>39.5%</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Depreciation &amp; amortization</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(296)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(114)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(409)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Share of net profit in joint ventures</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">45</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(45)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other operating income (expenses), net</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Operating profit</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>134</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>134</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(45)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>223</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Net financial expenses</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(141)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(25)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(167)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other non-operating income (expenses), net</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(159)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(3)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(161)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Gains (losses) from associates</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) before tax</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(167)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>106</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(45)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(106)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Net tax credit (charge)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">16</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(23)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(7)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) for the period</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(151)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>83</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(45)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(113)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Profit (loss) from discontinued operations</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Non-controlling interests</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">28</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(38)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(10)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net profit (loss) for the period</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(122)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>45</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(45)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(122)</B></FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

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<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 55%; border: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Balance Sheet data ($ millions)</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: #00245D 1pt solid; border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Millicom IFRS</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: #00245D 1pt solid; border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Guatemala and Honduras JVs</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: #00245D 1pt solid; border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Underlying (non-IFRS)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #00245D 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #00245D 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Intangible assets, net</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,105</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,898</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">6,003</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Property, plant and equipment, net</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,605</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">906</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">3,510</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Right of Use Assets</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">880</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">292</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,172</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Investments in joint ventures and associates</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,863</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(2,838)</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">24</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other non-current assets</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">279</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">185</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">465</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL NON-CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>9,731</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,443</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>11,175</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Inventories, net</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">50</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">37</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">87</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Trade receivables, net</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">358</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">77</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">435</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other current assets</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">862</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">368</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,230</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Restricted cash</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">147</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">13</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">160</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,545</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">202</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,747</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,962</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>698</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>3,660</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Assets held for sale</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">4</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>12,697</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,141</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>14,838</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #00245D 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: #00245D 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>EQUITY AND LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Equity attributable to owners of the Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,185</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(41)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,144</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Non-controlling interests</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">216</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">624</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">840</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL EQUITY</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,401</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>583</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,984</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Debt and financing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">7,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,524</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">8,723</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other non-current liabilities</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(205)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">795</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL NON-CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>8,199</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,319</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>9,517</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Debt and financing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">180</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">65</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">245</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Other current liabilities</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,918</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">174</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">2,092</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,098</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>239</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,337</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Liabilities directly associated with assets held for sale</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>10,297</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,558</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>11,854</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>TOTAL EQUITY AND LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>12,697</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>2,141</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>14,838</B></FONT></TD></TR>
</TABLE>
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    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Earnings Release</B></P>

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<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><B>Q1 2020</B></P>

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</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #000640">
    <TD STYLE="width: 63%; border: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Cash Flow Data</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Millicom IFRS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Guatemala and Honduras JVs</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 11%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Underlying (non-IFRS)</B></FONT></TD></TR>
<TR STYLE="background-color: #000640">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>($millions)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) before taxes from continuing operations</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(167)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>61</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(106)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Profit (loss) for the period from discontinued operations</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Profit (loss) before taxes</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(167)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>61</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(106)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net cash provided by operating activities (incl. discontinued ops)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>106</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>178</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>284</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net cash used in investing activities (incl. discontinued ops)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(222)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(179)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(402)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net cash from (used by) financing activities (incl. discontinued ops)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>528</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(25)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>503</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Exchange impact on cash and cash equivalents, net</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(30)</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(1)</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">(31)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Net (decrease) increase in cash and cash equivalents</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>381</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>(27)</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>354</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Cash and cash equivalents at the beginning of the period</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,164</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">229</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">1,393</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">Effect of cash in disposal group held for sale</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; border-left: #00245D 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>Cash and cash equivalents at the end of the period</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,545</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>202</B></FONT></TD>
    <TD STYLE="border-right: #00245D 1pt solid; border-bottom: #00245D 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000640"><B>1,747</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640"><B>Regulatory Statement</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #000640">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285"><I>This information was
prior to this release inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET
on April&nbsp;30, 2020.</I></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="padding-top: 24pt; text-align: left; vertical-align: middle; width: 70%; padding-bottom: 24pt"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"></P>

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</TD>
    <TD STYLE="padding-top: 24pt; text-align: center; vertical-align: middle; width: 30%; padding-bottom: 24pt">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 36pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66"><B>Unaudited Interim</B></P>

<P STYLE="font: 36pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66"><B>Condensed Consolidated</B></P>

<P STYLE="font: 36pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66"><B>Financial Statements</B></P>

<P STYLE="font: 36pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 36pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66"></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66"><B>For the three-month period ended
March&nbsp;31, 2020</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 68pt 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">April&nbsp;30, 2020</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="text-align: right; font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><FONT STYLE="font-size: 10pt">1</FONT></P>


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<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited
                                         Interim Condensed Consolidated Financial Statements</B></FONT></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for
the three-month period ended March 31, 2020</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P>



<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statement
of income for the three-month period ended March&nbsp;31, 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 68%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars except per share data</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three
    months ended March 31, 2020 (i)</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019 (i)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Revenue</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,088</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,035</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cost of sales</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(305)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(291)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Gross profit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>783</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>743</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Operating expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(401)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(374)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(223)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(199)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Amortization</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(73)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(60)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share of profit in the joint ventures in Guatemala and Honduras</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">15</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">45</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">44</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other operating income (expenses), net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Operating profit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>5</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>134</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>161</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest and other financial expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(147)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(140)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest and other financial income</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other non-operating (expenses) income, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(159)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) from other joint ventures and associates, net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Profit (loss) before taxes from continuing operations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(167)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>41</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Tax (charge) credit, net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">16</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(18)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) from continuing operations</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(151)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) from discontinued operations, net of tax</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net profit (loss) for the period</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(151)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>23</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-top: gray 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Attributable to:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: gray 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: gray 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: gray 1pt solid">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">The owners of Millicom</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(122)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Non-controlling interests</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(28)</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(Loss)/Earnings per common share for net profit/ (loss) attributable to the owners of the Company:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Basic ($)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1.21)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">0.13</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Diluted ($)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1.21)</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">0.13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285"><I>(i)&nbsp;&nbsp;Restated
for discontinued operations (see note 4) and as a result of the finalization of the purchase accounting of latest acquisitions
(see note 3).</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statement
of comprehensive income for the three-month period ended March&nbsp;31, 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 79%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; border-top: #A7A7A7 1pt solid; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months</B></FONT></P>
                                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>ended March 31,</B></FONT></P>
                                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>2020 (i)</B></FONT></P></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>Three months</B></FONT></P>
                                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>ended March 31,</B></FONT></P>
                                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>2019 (i)</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit (loss) for the period</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(151)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Other comprehensive income (to be reclassified to statement of income in subsequent periods), net of tax:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Exchange differences on translating foreign operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(99)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Change in value of cash flow hedges, net of tax effects</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(18)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total comprehensive income (loss) for the period</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(268)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>30</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Attributable to</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Owners of the Company</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(217)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(50)</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">14</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: gray 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total comprehensive income for the period arises from:</B></FONT></TD>
    <TD STYLE="border-top: gray 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: gray 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Continuing operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(268)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">31</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Discontinued operations</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285"><I>(i)&nbsp;&nbsp;Restated
for discontinued operations (see note 4) and as a result of the finalization of the purchase accounting of latest acquisitions
(see note 3).</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statement
of financial position as at March&nbsp;31, 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 74%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>March 31, 2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>December 31, 2019 (audited)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>NON-CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Intangible assets, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">9</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3,105</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3,219</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Property, plant and equipment, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,605</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,883</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Right of use assets</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">880</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">977</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Investments in joint ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">15</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,838</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,797</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Investments in associates</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">24</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">25</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Contract costs, net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Deferred tax assets</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">180</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">200</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other non-current assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">94</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">104</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL NON-CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>9,731</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>10,210</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">50</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">32</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Trade receivables, net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">358</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">371</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Contract assets, net</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">41</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Amounts due from non-controlling interests, associates and joint ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">24</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">29</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Prepayments and accrued income</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">193</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">156</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Current income tax assets</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">130</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">119</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Supplier advances for capital expenditure</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">21</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">22</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Equity investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">14</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">292</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">371</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other current assets</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">163</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">181</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Restricted cash</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">147</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">155</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,545</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,164</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,962</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,641</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Assets held for sale</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,697</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,856</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statement
of financial position as at March&nbsp;31, 2020 (continued)</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 73%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>March 31, 2020</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>December 31, 2019 (audited)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EQUITY AND LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EQUITY</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share capital and premium</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">631</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">633</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Treasury shares</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(38)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(51)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other reserves</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(652)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(544)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Retained profits</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,367</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,222</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) for the period attributable to equity holders</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(122)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">149</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Equity attributable to owners of the Company</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,185</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,410</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Non-controlling interests</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">216</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">271</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL EQUITY</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,401</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,680</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>NON-CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Debt and financing</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6,327</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5,786</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Lease liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">872</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">967</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Derivative financial instruments</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">44</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">17</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Amounts due to non-controlling interests, associates and joint ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">353</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">337</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Provisions and other non-current liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">337</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">383</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Deferred tax liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">266</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">279</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL NON-CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>8,199</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>7,770</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Debt and financing</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">83</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">186</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Lease liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">97</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">97</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Put option liability</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">255</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">264</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Payables and accruals for capital expenditure</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">223</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">348</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other trade payables</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">280</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">289</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Amounts due to non-controlling interests, associates and joint ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">172</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">161</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Accrued interest and other expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">381</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">432</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Current income tax liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">78</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">75</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Contract liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">78</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">82</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Provisions and other current liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">452</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">474</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,098</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,406</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>10,297</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>10,176</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>TOTAL EQUITY AND LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,697</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,856</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 45; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statement
of cash flows for the three-month period ended March&nbsp;31, 2020</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 75%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="width: 5%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Notes</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>March 31, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>March 31, 2019 (i)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Cash flows from operating activities (including discontinued operations)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) before taxes from continuing operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(167)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">41</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) before taxes from discontinued operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Profit (loss) before taxes</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(167)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>42</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Adjustments to reconcile to net cash:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest expense on leases</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">39</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">37</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest expense on debt and other financing</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">108</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">103</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest and other financial income</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(6)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(4)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Adjustments for non-cash items:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation and amortization</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">296</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">265</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share of profit in Guatemala and Honduras joint ventures</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(45)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(44)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 14pt; text-indent: -14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(Gain) on disposal and impairment of assets, net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(5)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share based compensation</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Loss from other joint ventures and associates, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other non-cash non-operating (income) expenses, net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">159</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(12)</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Changes in working capital:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Decrease (increase) in trade receivables, prepayments and other current assets, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(98)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(210)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Decrease in inventories</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(22)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 8pt; text-indent: -8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Increase (decrease) in trade and other payables, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">79</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Changes in contract assets, liabilities and costs, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total changes in working capital</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(130)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(139)</B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest paid on leases</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(37)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(32)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest paid on debt and other financing</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(110)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(66)</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest received</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Taxes paid</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net cash provided by operating activities</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>106</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>147</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Cash flows from (used in) investing activities (including discontinued operations):</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 4pt; text-indent: -4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Proceeds from disposal of subsidiaries and associates, net of cash disposed</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">17</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchase of intangible assets and licenses</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">9</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(91)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(79)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchase of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(179)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(170)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Proceeds from sale of property, plant and equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">9</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Dividends and dividend advances received from joint ventures</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">15</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">24</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">51</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash in escrow</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(500)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash (used in) provided by other investing activities, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net cash used in investing activities</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(222)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(683)</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4">
        <P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated
statement of cash flows for the three-month period ended March&nbsp;31, 2020 (continued)</B></P>
        <P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="width: 75%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Cash flows from financing activities (including discontinued operations):</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Proceeds from debt and other financing</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">706</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">959</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Repayment of debt and other financing</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(136)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(421)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Lease capital repayment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(32)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(25)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Advances and dividends paid to non-controlling interests</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share repurchase program</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(10)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net cash provided by (used in) financing activities</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>528</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>502</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Exchange impact on cash and cash equivalents,net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(30)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net (decrease) increase in cash and cash equivalents</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>381</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(33)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-left: 4pt; text-indent: -4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash and cash equivalents at the beginning of the year</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,164</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">528</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Cash and cash equivalents at the end of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,545</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>495</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285"><I>(i)&nbsp;&nbsp;Restated
for discontinued operations (see note 4) and as a result of the finalization of the purchase accounting of latest acquisitions
(see note 3).</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4"><B>Unaudited interim condensed consolidated statements
of changes in equity for the three-month period ended March&nbsp;31, 2020 and years ended December 31, 2019 and 2018</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #39B8D4">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; width: 26%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="padding-right: 1pt; width: 7%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Number of shares (000&rsquo;s)</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Number of shares held by the Group (000&rsquo;s)</B></FONT></TD>
    <TD STYLE="width: 6%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Share capital</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Share premium</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Treasury shares</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Retained profits(i)</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Other reserves</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Non- controlling interests</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total equity</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Balance on December 31, 2018</B></FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>101,739</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(914)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>153</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>482</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(81)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,525</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(538)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,542</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>251</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,792</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Total comprehensive income for the period</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">16</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">14</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">30</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Dividends to non controlling interests</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchase of treasury shares</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(96)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(8)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share based compensation</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Issuance of shares under share-based payment schemes</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">359</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">32</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(7)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(20)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Balance on March 31, 2019 (ii)</B></FONT></TD>
    <TD STYLE="padding-right: 1pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>101,739</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(650)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>153</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>481</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(57)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,532</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(549)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,558</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>264</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,822</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&nbsp;Balance on December 31, 2019</B></FONT></TD>
    <TD STYLE="padding-right: 1pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>101,739</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(581)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>153</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>480</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(51)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,372</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(544)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,409</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>271</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,680</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Total comprehensive income for the period</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(122)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(95)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(217)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(50)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(268)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Dividends to non controlling interests</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(4)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(4)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchase of treasury shares (iii)</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(405)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(16)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(13)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(13)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share based compensation</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Issuance of shares under share-based payment schemes</FONT></TD>
    <TD STYLE="padding-right: 1pt; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">324</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">29</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(8)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(19)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Balance on March 31, 2020</B></FONT></TD>
    <TD STYLE="padding-right: 1pt; border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>101,739</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(662)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>153</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>479</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(38)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,244</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(652)</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,185</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>216</B></FONT></TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,401</B></FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>(i)</I></TD><TD><I>Retained profits &ndash; includes profit for the period attributable to equity holders, of which at March&nbsp;31, 2020,
$317 million (2019: $306 million; 2018: $324 million) are not distributable to equity holders.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>(ii)</I></TD><TD><I>Restated as a result of the finalization of the purchase accounting of latest acquisitions (see note 3).</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>(iii)</I></TD><TD><I>During the three-month period ended March&nbsp;31, 2020, Millicom repurchased 342,251 shares for a total amount of $10 million
and withheld approximately 62,000 shares for settlement of tax obligations on behalf of employees under share-based compensation
plans.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>Notes to the unaudited interim condensed consolidated
statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>1. ORGANIZATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Millicom International Cellular&nbsp;S.A. (the
&ldquo;Company&rdquo; or &ldquo;MIC SA&rdquo;), a Luxembourg Soci&eacute;t&eacute; Anonyme, and its subsidiaries, joint ventures
and associates (the &ldquo;Group&rdquo; or &ldquo;Millicom&rdquo;) is an international telecommunications and media company providing
digital lifestyle services in emerging markets, through mobile and fixed telephony, cable, broadband, and Pay-TV in Latin America
and Africa.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On April&nbsp;29, 2020, the Board of Directors
authorized these unaudited interim condensed consolidated financial statements for issuance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>2. SUMMARY OF CONSOLIDATION AND ACCOUNTING
POLICIES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">These interim condensed consolidated financial
statements of the Group are unaudited. They are presented in US dollars and have been prepared in accordance with International
Accounting Standard (&ldquo;IAS&rdquo;) 34 &lsquo;Interim Financial Reporting&rsquo; as issued by the International Accounting
Standards Board and as adopted by the European Union. In the opinion of management, these unaudited interim condensed consolidated
financial statements reflect all adjustments that are necessary for a proper presentation of the results for interim periods. Millicom&rsquo;s
operations are not affected by significant seasonal or cyclical patterns.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">These unaudited interim condensed consolidated
financial statements should be read in conjunction with the audited consolidated financial statements for the period ended December&nbsp;31,
2019. These financial statements are prepared in accordance with consolidation and accounting policies consistent with the December&nbsp;31,
2019 consolidated financial statements, except for the changes described below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>COVID-19 - Qualitative and quantitative
assessment on business activities, financial situation and economic performance</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The outbreak of a novel and highly contagious
form of coronavirus (&ldquo;COVID-19&rdquo;), which the World Health Organization has declared to constitute a pandemic, has resulted
in numerous deaths, adversely impacted global commercial activity and contributed to significant volatility in global equity and
debt markets. The impact of the outbreak is rapidly evolving, and most countries globally, including a majority of the countries
where we operate, have reacted by implementing severe restrictions on travel and public gatherings, including the closing of offices,
businesses, schools, retail stores and other public venues, and by instituting curfews or quarantines.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">Such measures, as well as
the general uncertainty surrounding the dangers of COVID-19, have produced a significant disruption in economic activity and are
having an adverse impact on transportation, hospitality, tourism, entertainment and other industries. As a result, many economists
now project a severe global recession and a contraction in economic activity in Latin America in 2020, including the countries
where we operate. In addition, many currencies globally have weakened against the U.S. dollar since the onset of the pandemic.
In our markets, the Colombian peso has weakened meaningfully year-to-date, and some of our other markets may experience increased
currency volatility in coming months.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><B><I>Impact on our markets and business</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">To date, the countries where we operate have
reported fewer cases and fatalities related to COVID-19 than in Europe and the United States, but this may reflect a relative lack
of testing and reporting, and the number of cases and deaths both continue</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>2. SUMMARY OF CONSOLIDATION AND ACCOUNTING
POLICIES (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">to rise. That said, most
governments in our markets were quick to implement severe restrictions, which may prove effective at containing the spread of the
virus and its impact on health systems and economies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">As one of the largest private
companies in many of our markets, we have been supporting local governments and health officials in many ways, especially by communicating
important information to the public.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Our business is at the core of the contingency
plans for the millions of individuals and companies who rely on us to connect them to their family and friends, business partners,
and to the world. As a result, we have observed an increase in traffic of approximately 40-50% on our fixed networks since restrictions
were imposed by governments in our markets, whilst the impact on our mobile networks have been more modest. However, we have also
seen the negative impact of the disruption to our sales and distribution channels caused by the closure of many of our stores and
points of sale. These closures impact our ability to service and to collect from our customers and to sell products and services,
including postpaid mobile and residential cable subscriptions and prepaid SIM cards and top-ups.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Governments in some countries have mandated that
companies such as ours avoid disconnecting clients for non-payment, that we waive fees for late payments, and/or that we defer
late payments over an extended period of two or three years, among other measures. Unfortunately, news headlines related to the
implementation of such regulatory measures have, at times, created some confusion among our customers and has exacerbated the disruption
to our collections. We are working closely with these governments to ensure our full compliance with the measures, and we have
gradually rolled out &quot;lifeline products&quot; to all our markets to retain customers who are temporarily unable to pay for
our services, while also providing an incentive for other customers to continue to pay fully and in a timely manner.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Finally, our supply chain continues to function
without any meaningful interruption, and we have taken steps to continue to secure sufficient inventory and supplies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><B><I>Management action</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">It is difficult to predict whether the challenges
we have been facing since mid-March will continue for the remainder of 2020 or 2021 and beyond, but we have implemented the following
initiatives aimed at preserving our strong cash flow and liquidity in 2020:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">1. cost savings of at least $100 million, reflecting
lower levels of activity as well as new measures;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">2. capex reduction of $200-300 million, as we
focus resources on adding capacity and preserving network integrity;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">3. cancellation of the dividend for 2020 ($100
million); and,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">4. suspension of the share buyback program (approximately
$150 million in 2020).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><B><I>Impact on liquidity and financial resources</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As of March 31, 2020, we had $1,747 million in
cash and cash equivalents, including 0.2 billion cash held in our joint ventures in Guatemala and Honduras. During the period,
we drew $337 million from our $600 million revolving credit facility (RCF), such that we ended Q1 2020 with approximately $2 billion
of liquidity, when considering both our cash (including joint ventures) and the undrawn portion of the RCF.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>2. SUMMARY OF CONSOLIDATION AND ACCOUNTING
POLICIES (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In contrast, including our joint ventures in
Guatemala and Honduras, we had relatively modest financial obligations maturing near term, including $111 million in 2020 and $168
million in 2021. We are currently in compliance with all of our covenants, and we continue to have significant headroom over our
principal leverage covenant.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray"><B><I>Impact on accounting matters</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As COVID-19 continues to spread, the potential
impacts, including a global, regional or other economic recession, are increasingly uncertain and difficult to assess. Nevertheless,
we have identified potential significant accounting implications in the following areas:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD>Impairment of non-financial assets/goodwill/investments
in joint ventures</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">We have noticed reduced economic activity
across the countries where we operate, and our operations are suffering lower revenues, EBITDA and margins, which might indicate
potential impairments. Given this outbreak is still very recent and considering the uncertainty of its effects on future periods,
management believes it is too early to re-perform a complete impairment test in the first quarter of 2020. However, in order to
better capture the risks inherent in this more uncertain operating environment, management has updated the sensitivity analysis
performed in the framework of its 2019 goodwill impairment testing by deteriorating EBITDA sensitivity from initially 2% to 10%
decrease. In parallel, discount rates used in 2019 impairment tests have also been increased by 100 bps to 500 bps depending on
the countries. As a result of these changes, management notes an increased impairment risk for its cash generating units (CGUs)
in Nicaragua, El Salvador and Costa Rica. Management will continue to monitor the impairment risk for these CGUs in the coming
months.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Impairment of trade receivables / Revenue recognition</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">Given the very recent outbreak in our
markets, we did not see any significant effects on collections as of March closing. However, this area is monitored very closely
by management. As such, IFRS 9 provision matrix and bad debt provisions are being updated on a regular basis to reflect the probability
for the Group of collecting receivables. While no significant effects were noted so far, the liquidity risk might be increasing
in the coming months.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">In addition, the Group continues to
monitor and review revenue recognition in accordance with the requirements of IFRS 15, in particular with respect to the probability
of collectability, particularly in countries where governments are mandating continuity of service.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Income taxes</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">Considering the current outbreak and
the uncertainty around its effects, management considered that a full Effective Tax Rate (&quot;ETR&quot;) approach was appropriate
to determine the Q1 2020 group tax charge.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">Nevertheless, despite the fact that
this outbreak is still very recent and its effect on future periods yet to be assessed, when such ETR has not been considered as
representative for the period, a further analysis was performed to reach a more meaningful ETR, based on the best assessment possible
with the available information. In some specific cases, such as loss-making operations or one-offs (prior year adjustments, tax
audits, non-routine transactions), a deeper analysis was performed to assess the impact on the resulting tax charge.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>2. SUMMARY OF CONSOLIDATION AND ACCOUNTING
POLICIES (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">The Q1 2019 tax charge was the result
of a full current and deferred tax computation. However, the ETR methodology was used to assess the reliability of the resulting
tax charge. Therefore, the Q1 2019 tax charge can be considered as comparable to the Q1 2020 tax charge.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD>Valuation of equity investments</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">In accordance with IFRS 9, our equity
investments in Helios Towers and Jumia are marked to market every quarter. Management note that the current market volatility might
affect significantly the valuation of these assets. For example, if we were to mark these investments to market as of April 28,
2020, the impact in statement of income would be an additional loss of $9 million compared to what we report in these interim condensed
financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Note that there might be implications on other
accounting areas such as revenue recognition, inventories or share-based payments, but we currently do not expect these to be significant
as of today.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Finally, as of the date of this report, we have
determined there are no material uncertainties that might cast significant doubt upon the Group's or any of our operations' ability
to continue as a going concern.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>New and amended IFRS standards</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The following changes to standards effective
for annual periods starting on January 1, 2020 have been adopted by the Group and did not have any significant impact on the Group&rsquo;s
accounting policies or disclosures and did not require retrospective adjustments:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Amendments to the conceptual framework. The IASB has revised its conceptual framework.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Amendments to IAS 1, &lsquo;Presentation of financial statements&rsquo;, and IAS 8, &lsquo;Accounting policies, changes in
accounting estimates and errors&rsquo;.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Amendments to IFRS 9, IAS 39 and IFRS 7 - Interest Rate Benchmark Reform.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Amendments to IFRS 3 - definition of a business. This amendment revises the definition of a business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The following changes to standards not yet effective
are not expected to materially affect the Group:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>IFRS 17, &lsquo;Insurance contracts&rsquo; - effective for annual periods starting on January 1, 2021- IFRS 17 will not have
an impact for the Group. IFRS 17 has not been yet endorsed by the EU.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #808285"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Amendments to IAS 1, 'Presentation of Financial Statements' - effective for annual periods starting on January 1, 2022- This
amendment clarifies that liabilities are classified as either current or non-current, depending on the rights that exist at the
end of the reporting period. The amendment also clarifies what IAS 1 means when it refers to the &lsquo;settlement&rsquo; of a
liability. These amendments have not yet been endorsed by the EU.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>3. ACQUISITION AND DISPOSAL OF SUBSIDIARIES,
JOINT VENTURES, ASSOCIATES AND OTHER NON-CONTROLLING INTERESTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Acquisitions 2019</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On February 20, 2019, MIC S.A., Telefonica Centroamerica
and Telefonica S.A. entered into 3 separate share purchase agreements (the &ldquo;Telefonica CAM Acquisitions&rdquo;) pursuant
to which, subject to the terms and conditions contained therein, Millicom agreed to purchase 100% of the shares of Telefonica Moviles
Panama, S.A., a company incorporated under the laws of Panama, from Telefonica Centroamerica (the &ldquo;Panama Acquisition&rdquo;),
100% of the shares of Telefonica de Costa Rica TC, S.A., a company incorporated under the laws of Costa Rica, from Telefonica (the
&ldquo;Costa Rica Acquisition&rdquo;) and 100% of the shares of Telefonia Celular de Nicaragua, S.A., a company incorporated under
the laws of Nicaragua, from Telefonica Centroamerica (the &ldquo;Nicaragua Acquisition&rdquo;). The Telefonica CAM Acquisitions
Share Purchase Agreements contain customary representations and warranties and termination provisions. The closing of the Costa
Rica Acquisition is subject to the issuance of certain regulatory approvals. If those approvals have not been obtained by May 1,
2020, either party may terminate the transaction, and Millicom has publicly communicated its intention to terminate in the case
the approvals are not issued by May 1, 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The aggregate purchase price for the Telefonica
CAM Acquisitions is $1.65 billion, subject to potential purchase price adjustments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Nicaragua Acquisition</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">This
transaction closed on May 16, 2019 after receipt of the necessary approvals and, since that date, Millicom holds all voting rights
in Telefonia Celular de Nicaragua (&quot;Nicaragua&quot;) and controls it. On the same day, Millicom paid an original cash consideration
of $437 million, provisionally adjusted to $430 million as of December&nbsp;31, 2019 and still subject to final price adjustment
expected in H1 2020. The purchase consideration also includes potential indemnifications from the sellers (including tax and litigation
contingencies). For the purchase accounting, Millicom determined the provisional fair values of Nicaragua's identifiable assets
and liabilities based on transaction and relative fair values. The purchase accounting is still provisional at March&nbsp;31, 2020,
particularly in respect of final price adjustment and has not materially changed since December&nbsp;31, 2019. Management will
finalize the purchase accounting not later than Q2 2020</FONT><FONT STYLE="color: #818386">.</FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">Refer
to the Group audited consolidated financial statements for the year ended December&nbsp;31, 2019 for further details.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Panama Acquisition</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">This transaction closed on August 29, 2019 after
receipt of the necessary approvals and, since that date, Cable Onda, which is 80% owned by Millicom, holds all voting rights in
Telefonica Moviles Panama, S.A. (&quot;Panama&quot;) and controls it. On the same day, Cable Onda paid an original cash consideration
of $594 million to acquire 100% of the shares of Panama, subject to a final price adjustment expected in H2 2020. The purchase
consideration also includes potential indemnifications from the sellers (including potential tax contingencies and litigations).
No non-controlling interests are recognized at acquisition date as Cable Onda acquired 100% of the shares of Panama. However, non-controlling
interests are recognized in Panama's results from the date of acquisition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">For
the purchase accounting, Millicom determined the fair value of Panama's identifiable assets and liabilities based on transaction
and relative fair values. The purchase accounting is still provisional at March&nbsp;31, 2020, particularly in respect of the evaluation
of property, plant and equipment, right-of-use assets and lease liabilities, final price adjustment and their resulting impact
on the current valuation of intangible assets and has not materially changed since December&nbsp;31, 2019. Management will finalize
the purchase accounting not later than Q3 2020</FONT><FONT STYLE="color: #818386">.</FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #808285">Refer
to the Group audited consolidated financial statements for the year ended December&nbsp;31, 2019 for further details.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>3. ACQUISITION AND DISPOSAL OF SUBSIDIARIES,
JOINT VENTURES, ASSOCIATES AND OTHER NON-CONTROLLING INTERESTS (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The finalizations of the purchase accounting
for Cable Onda had an effect on the following financial statements line items as of and for the three-month period ended March&nbsp;31,
2019:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 57%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>March 31, <BR>
2019</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>As reported<BR>
 (i)</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P></TD>
    <TD STYLE="width: 15%; border-top: #A7A7A7 1pt solid">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>Impact of finalization
        of purchase accounting</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>of Cable Onda</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P></TD>
    <TD STYLE="width: 9%; border-top: #A7A7A7 1pt solid">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>March 31, 2019</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"><B>Restated</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #003A66"></P></TD>
    <TD STYLE="width: 9%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Reason for the change</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(196)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(199)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(ii)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) before taxes from continuing operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">43</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">41</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Tax (charge) credit, net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(18)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(18)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) from continuing operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">25</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit (loss) for the period</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">25</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit (loss) attributable to owners of the Company from continuing operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">14</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Non-controlling interests</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EQUITY</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Retained profits</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,533</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2,532</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(iii)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">262</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">264</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(iii)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Restated for the effects of discontinued operations
(see note 4).</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(ii)</I></TD><TD><I>The Group finalized Cable Onda's purchase accounting
in December 2019, by adjusting the provisional fair values mainly on tangible assets. The impact shown in the table correspond
to the depreciation of the step-up that was not yet reflected in the numbers published last year for the three-month period ended
March&nbsp;31, 2019.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(iii)</I></TD><TD><I>Reflects the &quot;Statement of financial position&quot;
effects of the adjustments explained above.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 54; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>4. DISCONTINUED OPERATIONS AND ASSETS HELD
FOR SALE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Summary</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Financial information relating to the discontinued
operations for the three-month period ended March&nbsp;31, 2019 are set out below. Figures shown below are after inter-company
eliminations. 2019 figures include Chad only (3 months).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 88%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Results from Discontinued Operations ($ millions)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Revenue</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">30</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cost of sales</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(8)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Operating expenses</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(13)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation and amortization</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(6)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other expenses linked to the disposal of discontinued operations</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Operating profit (loss)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest income (expense), net</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Profit (loss) before taxes</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Credit (charge) for taxes, net</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net Profit/(loss) from discontinuing operations</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 88%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Cash flows from discontinued operations ($ millions)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash from (used in) operating activities, net</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(5)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash from (used in) investing activities, net</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cash from (used in) financing activities, net</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Net cash inflows/(outflows)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>3</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Tower Sale and Leasebacks</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: #808285">In 2018 and 2019,
the Group announced agreements to sell and leaseback wireless communications towers in Paraguay, Colombia and El Salvador. During
the three-month period ended March&nbsp;31, 2020, no transfers were made (March&nbsp;31, 2019: nil,) and no cash was received (March&nbsp;31,
2019</FONT>: <FONT STYLE="font-size: 10pt; color: #808285">$9 million).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Rwanda</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On January 31, 2018, Millicom completed the sale
of its Rwanda operations to subsidiaries of Bharti Airtel Limited for cash consideration of $51 million. The consideration included
a deferred cash payment of $17 million, which has been received in Q1 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>5. SEGMENT INFORMATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Management determines operating and reportable
segments based on information used by the chief operating decision maker (CODM) to make strategic and operational decisions from
both a business and geographic perspective. The Group&rsquo;s risks and rates of return are predominantly affected by operating
in different geographical regions. The Group has businesses in two main regions: Latin America (&ldquo;Latam&rdquo;) and Africa.
The Latam figures below include Honduras and Guatemala as if they are fully consolidated by the Group, as this reflects the way
management reviews and uses internally reported information to make decisions. Honduras and Guatemala are shown under the Latam
segment. The joint venture in Ghana is not reported as if fully consolidated.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As from March&nbsp;31, 2020, we are allocating
corporate costs to each segment based on their contribution to underlying revenue, and only non-recurring costs, such as the M&amp;A-related
fees incurred in both 2018 and 2019, will remain unallocated going forward. This change in presentation has no impact on Group
EBITDA.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In order to facilitate comparisons of March&nbsp;31,
2020 figures with prior periods, we have re-presented comparative figures to conform with this new segment EBITDA reporting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Revenue, operating profit (loss), EBITDA and
other segment information for the three-month periods ended March&nbsp;31, 2020 and 2019, are as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 40%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020<BR>
(in millions of U.S dollars)</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Latin America</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Africa</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Unallocated</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Guatemala and Honduras(vii)</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Eliminations and<BR>
Transfers</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Mobile revenue</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">843</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">87</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(373)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">556</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cable and other fixed services revenue</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">539</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(73)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">468</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other revenue</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Service revenue (i)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,395</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">89</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(447)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,036</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Telephone and equipment and other revenue (i)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">110</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(58)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">52</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Revenue</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,504</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>89</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(505)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,088</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Operating profit (loss)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>219</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>7</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(3)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(134)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>45</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>134</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Add back:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation and amortization</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">383</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(114)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">296</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share of profit in joint ventures in Guatemala and Honduras</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(45)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(45)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other operating income (expenses), net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EBITDA (ii)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>600</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>30</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(248)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>382</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">EBITDA from discontinued operations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EBITDA incl discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>600</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>30</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(248)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>382</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Capital expenditure (iii)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(284)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(10)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(4)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">67</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(232)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Changes in working capital and others (iv)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(64)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(59)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(124)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Taxes paid</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(33)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">26</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Operating free cash flow (v)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>219</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>16</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(63)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(156)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>15</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Assets (vi)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>13,474</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>925</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>4,408</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(5,527)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(584)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,697</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>8,162</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>911</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>4,338</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(2,104)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(1,010)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>10,297</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B></B></P>

<!-- Field: Page; Sequence: 56; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>5. SEGMENT INFORMATION (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-right: 2pt; width: 39%; border-top: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019<BR>
(in millions of U.S dollars)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 9%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Latin America</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Africa (viii)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Unallocated</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 12%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Guatemala and Honduras (vii)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Eliminations and transfers</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 10%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Mobile revenue</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">778</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">91</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(368)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">501</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cable and other fixed services revenue</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">541</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(67)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">477</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other revenue</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Service revenue (i)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,331</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">93</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(435)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">990</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Telephone and equipment revenue (i)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">95</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(49)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">45</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,426</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>94</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(485)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,035</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66; background-color: #EEF1F9"><B>Operating profit (loss)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>249</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>8</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(136)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>44</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>161</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Add back:</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; padding-left: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">340</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">24</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(109)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">258</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Share of profit in joint ventures in Guatemala and Honduras</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(44)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(44)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other operating income (expenses), net</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(5)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EBITDA (ii)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>587</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>31</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(247)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>370</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">EBITDA from discontinued operations</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>EBITDA incl discontinued operations</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>587</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>39</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(247)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>377</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Capital expenditure (iii)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(305)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(10)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(2)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">77</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(241)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Changes in working capital and others (iv)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(86)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(6)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(30)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(10)</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(132)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Taxes paid</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(23)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">22</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(3)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Operating free cash flow (v)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>173</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>19</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(33)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(158)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Assets (vi)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12,528</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,133</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>3,124</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(5,611)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>177</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>11,351</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>6,792</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,024</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>3,547</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(2,127)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(707)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>8,529</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Service revenue is Group revenue related to the provision
of ongoing services such as monthly subscription fees, airtime and data usage fees, interconnection fees, roaming fees, mobile
finance service commissions and fees from other telecommunications services such as data services, SMS and other value-added services
excluding telephone and equipment sales. Revenues from other sources comprises rental, sub-lease rental income and other non recurrent
revenues. The Group derives revenue from the transfer of goods and services over time and at a point in time. Refer to the table
below.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(ii)</I></TD><TD><I>EBITDA is operating profit excluding impairment losses,
depreciation and amortization and gains/losses on the disposal of fixed assets. EBITDA is used by the management to monitor the
segmental performance and for capital management.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(iii)</I></TD><TD><I>Excluding spectrum and licenses of $39 million (2019:
$7 million) and cash received on tower deals of nil (2019: $9 million).</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(iv)</I></TD><TD><I>&lsquo;Changes in working capital and others&rsquo;
include changes in working capital as stated in the cash flow statement as well as share based payments expense and non-cash bonuses.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(v)</I></TD><TD><I>Operating Free Cash Flow is EBITDA less cash capex
(excluding spectrum and license costs) less change in working capital, other non-cash items (share-based payment expense and non-cash
bonuses) and taxes paid.</I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(vi)</I></TD><TD><I>Segment assets include goodwill and other intangible
assets.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(vii)</I></TD><TD><I>Including eliminations for Guatemala and Honduras as
reported in the Latin America segment.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(viii)</I></TD><TD><I>Restated as a result of classification of certain of
our African operations as discontinued operations (see note 4).</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>5. SEGMENT INFORMATION (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Revenue from contracts with customers from continuing
operations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 41%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="width: 14%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Timing of revenue recognition</B></FONT></TD>
    <TD STYLE="width: 9%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Latin America</B></FONT></TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Africa</B></FONT></TD>
    <TD STYLE="width: 9%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Group</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Latin America</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Africa</B></FONT></TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total Group</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Mobile</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Over time</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">463</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">60</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">522</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">402</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">64</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">466</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Mobile Financial Services</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Point in time</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">7</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">27</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">34</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">8</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">27</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">35</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Cable and other fixed services</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Over time</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">466</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">468</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">475</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">2</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">477</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Over time</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">12</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Service Revenue</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>948</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>89</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,036</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>896</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>93</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>990</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Telephone and equipment</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Point in time</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">52</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">52</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">45</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">45</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Revenue from contracts with customers</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>999</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>89</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,088</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>942</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>94</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>1,035</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>6. OTHER NON-OPERATING (EXPENSES) INCOME,
NET</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The Group&rsquo;s other non-operating (expenses)
income, net comprised the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 73%; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019 (i)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Change in fair value in investment in Jumia (Note 14)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(18)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Change in fair value in investment in HT (Note 14)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(61)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Change in value of put option liability (Note 13)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">10</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Exchange gains (losses), net (ii)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(90)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other non-operating income (expenses), net</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(159)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>12</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Restated as a result of classification of Chad as discontinued
operations (see note 4 ).</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(ii)</I></TD><TD><I>Exchange losses for the quarter are mainly due to the
devaluation of the Colombia peso against US dollar.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 58; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>7. EARNINGS PER COMMON SHARE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Earnings per common share (EPS) attributable
to owners of the Company are comprised as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 76%; border-top: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 12%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 12%; border-top: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Basic and Diluted</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit (loss) attributable to equity holders from continuing operations</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(122)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit (loss) attributable to equity holders from discontinuing operations</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Net profit/(loss)&nbsp;&nbsp;attributable to all equity holders to determine the basic earnings (loss)&nbsp;&nbsp;per share</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(122)</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">13</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in thousands</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; padding-left: 2pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Weighted average number of ordinary shares for basic and diluted earnings per share</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">101,123</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">101,022</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-top: gray 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: gray 1pt solid; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-top: gray 1pt solid; padding-left: 2pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Basic and diluted</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">EPS from continuing operations attributable to owners of the Company</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1.21)</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">0.13</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">EPS from discontinued operations attributable to owners of the Company</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">EPS for the period attributable to owners of the Company</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1.21)</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-bottom: #A7A7A7 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">0.13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>8. PROPERTY, PLANT AND EQUIPMENT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">During the three-month period ended March&nbsp;31,
2020, Millicom added property, plant and equipment for $108 million (March 31, 2019: $112 million) and did not receive any cash
from disposal of property, plant and equipment (March&nbsp;31, 2019: $9 million).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>9. INTANGIBLE ASSETS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">During the three-month period ended March&nbsp;31,
2020, Millicom added intangible assets for $44 million of which $21 million related to acquisition of spectrum and licenses, and
$23 million to additions of other intangible assets (March 31, 2019: $26 million, all related to additions of other intangible
assets) and did not receive any proceeds from disposal of intangible assets (March&nbsp;31, 2019: nil).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In December 2019, Millicom's wholly-owned subsidiary
Telemovil El Salvador S.A. de C.V. ('Telemovil') acquired spectrum in 50Mhz AWS band and paid an advance of $14 million. On January
8, 2020, Telemovil made a final payment of $20 million and started using the spectrum.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In December 2019, Tigo Colombia participated
in an auction launched by the Ministerio de Tecnologias de la Informacion y las Comunicaciones (MINTIC), and acquired licenses
granting the right to use a total of 40 MHz in the 700 MHz band. The 20-year license will expire in 2040. As a result of this auction,Tigo
Colombia has strengthened its spectrum position, which also includes 55 MHz in the 1900 band and 30 MHz of AWS. Tigo Colombia agreed
to a total notional consideration of COP$2.45 billion (equivalent to approximately US$600 million using the March&nbsp;31, 2020
exchange rate), of which approximately 45% is in coverage obligations to be met by 2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The remaining 55% is payable in cash with an
initial payment of approximately US$33 million to be made in Q2 2020, with the remainder payable in 12 annual installments beginning
in 2026 and ending in 2037. In April 2020, local management received the permission to operate a first block of 20 Mhz in the 700
MHz band and made the corresponding payment ($24 million). Permissions to operate the other spectrum blocks is expected during
H1 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 59; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>10. FINANCIAL OBLIGATIONS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>A. Debt and financing</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The most significant movements in debt and financing
during the period were as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B>MIC S.A.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B>Revolving Credit Facility</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On March 25, 2020 MIC S.A. drew down $400 million
from the $600 million revolving credit facility it entered into on January 27, 2017 (the &quot;RCF&quot;). $337 million was disbursed
on March 25, 2020 and the remaining $63 million on April 3, 2020. The draw down has an initial 6-month term and Millicom has the
option to extend up to January 27, 2022 (the maturity date of the RCF).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B>Paraguay</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On January 28, 2020, Millicom's subsidiary in
Paraguay (Telecel) issued at a premium $250 million of 5.875% Senior Notes due 2027 (the &quot;New Notes&quot;), representing an
additional issuance from its US$300 million 5.875% Senior Notes due 2027 issued on April 5, 2019. The New Notes&nbsp;will be treated
as a single class with the initial notes, and were priced at 106.375 for an implied yield to maturity of 4.817%. The corresponding
$15 million premium received will be amortized over the Senior Notes maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On January 17, 2020, Telecel refinanced its previous
loan with Banco Ita&uacute; and obtained a new long-term loan from Banco Ita&uacute; Paraguay S.A., for Gs. 154.6 billion (approximately
$24 million) , amortizing semi-annually and maturing on December 27, 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On February 13, 2020, Telecel issued local bonds
in 2 series: (i) Series 6, for an amount of PYG 15 billion (approximately $2 million) with a 9.250% interest due on January 29,
2027, and (ii) Series 7, for an amount of PYG 20 billion (approximately $3 million) with a 10% interest due on January 31, 2029.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B>Colombia</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On March 4, 2020, Millicom' subsidiary in Colombia
(UNE), issued local bonds in an amount of COP 150,000,000,000 (approximately $44 million) to pay back an existing bond for the
same value, with a 6.600% fixed rate for 10 years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B>Tanzania</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On December 17, 2019 Millicom's subsidiary in
Tanzania (MIC Tanzania Public Limited Company) amended and restated its loan agreement executed on June 4, 2019 with Absa Bank
Limited, The Standard Bank of South Africa Limited and Stanbic Bank Tanzania Limited as mandated lead arrangers and Standard Bank
of South Africa Limited as agent, for an amount of up to USD 220 million loan in 2 tranches (i) A USD tranche of $174 million and
(ii) A TZS tranche of TZS103 billion with a 66 month maturity. On December 17, 2019 100% of the USD portion and TZS 34 billion
(approximately $15 million) were disbursed. On January 17, 2020 TZS 35 billion (approximately $15 million) were disbursed and the
last tranche of TZS 34 billion (approximately $15 million ) was disbursed on February 16, 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 60; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>10. FINANCIAL OBLIGATIONS (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Analysis of debt and financing by maturity</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The total amount of debt and financing is repayable
as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: gray 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Due within:</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 66%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">One year</FONT></TD>
    <TD STYLE="width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">83</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">186</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">One-two years</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">477</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">155</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Two-three years</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">142</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">145</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Three-four years</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">476</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">517</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Four-five years</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,022</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1,085</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">After five years</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4,211</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3,884</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: gray 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total debt and financing</B></FONT></TD>
    <TD STYLE="border-bottom: gray 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>6,410</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: gray 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: gray 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>5,972</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: gray 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As at March&nbsp;31, 2020, the Group's share
of total debt and financing secured by either pledged assets, pledged deposits issued to cover letters of credit or guarantees
was $417 million (December 31, 2019: $464 million).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In addition to the above, in 2019, MIC Tanzania
Public Limited Company entered into a loan facility agreement, with the Standard Bank of South Africa acting as an agent and a
consortium of banks acting as the original lenders. The facility agreement, maturing in 2025, has an all asset debenture securing
the whole amount, as well as a pledge over the shares of the immediate holding company of the borrower.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The table below describes the outstanding and
maximum exposure under guarantees and the remaining terms of the guarantees as at March&nbsp;31, 2020 and December 31, 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="padding-right: 2pt; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Bank and financing guarantees (i)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Terms</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Outstanding</B></FONT></P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>exposure(i)</B></FONT></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Maximum</B></FONT></P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>exposure(ii)</B></FONT></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Outstanding</B></FONT></P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>exposure(i)</B></FONT></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 2pt; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Maximum</B></FONT></P>
                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #003A66"><B>exposure(ii)</B></FONT></P></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 23%; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">0-1&nbsp;year</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 18%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 18%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">11</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 18%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">29</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; width: 19%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">29</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1-3&nbsp;years</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">256</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">256</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">134</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">134</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3-5&nbsp;years</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">150</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">150</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">300</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">300</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">More than 5&nbsp;years</FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; padding-left: 7pt; text-indent: -7pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>417</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>417</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>464</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>464</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>(i) If non-payment by the obligor, the guarantee
ensures payment of outstanding amounts by the Group's guarantor.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The Group&rsquo;s interest and other financial
expenses comprised the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 70%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest expense on bonds and bank financing</FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(97</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(86</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Interest expense on leases</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(39</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(37</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Early redemption charges</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(7</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Others</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(11</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(9</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #EEF1F9">
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total interest and other financial expenses</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(147</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(140</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>)</B></FONT></TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>10. FINANCIAL OBLIGATIONS (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>B. Lease liabilities</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In early 2020, and following a change in regulation
in Colombia, lease payments for the use of certain public assets have been significantly decreased. This triggered a lease modification
and a decrease of the related lease liabilities (and right-of-use assets) of approximately $45 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Except for the change above, there have been
no other significant events affecting lease liabilities (and right-of-use assets) during the three-month period ended March&nbsp;31,
2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>11. COMMITMENTS AND CONTINGENCIES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Litigation &amp; claims</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The Company and its operations are contingently
liable with respect to lawsuits, legal, regulatory, commercial and other legal risks that arise in the normal course of business.
As of March&nbsp;31, 2020, the total exposure for claims and litigation risks against Millicom and its subsidiaries is $176 million
(December 31, 2019: $204 million). The decrease is mainly due to currency devaluation in Colombia. The Group's share of the comparable
exposure for joint ventures is $4 million (December 31, 2019: $4 million).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As at March&nbsp;31, 2020, $28 million has been
provided by its subsidiaries for these risks in the consolidated statement of financial position (December 31, 2019: $30 million).
The Group's share of provisions made by the joint ventures was $3 million (December 31, 2019: $3 million). While it is not possible
to ascertain the ultimate legal and financial liability with respect to these claims and risks, the ultimate outcome is not anticipated
to have a material effect on the Group&rsquo;s financial position and operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Taxation</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">At March&nbsp;31, 2020, the tax risks exposure
of the Group's subsidiaries is estimated at $294 million, for which provisions of $53 million have been recorded in tax liabilities;
representing the probable amount of eventual claims and required payments related to those risks (December 31, 2019: $300 million
of which provisions of $50 million were recorded). The Group's share of comparable tax exposure and provisions in its joint ventures
amounts to $53 million (December 31, 2019: $49 million) and $4 million (December 31, 2019: $4 million), respectively.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Capital commitments</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">At March&nbsp;31, 2020, the Company and its subsidiaries
had fixed commitments to purchase network equipment, land and buildings, other fixed assets and intangible assets of $240 million
of which $217 million are due within one year (December 31, 2019: $122 million of which $102 million are due within one year).
The Group&rsquo;s share of commitments in the joint ventures is $43 million and $42 million. (December 31, 2019: $52 million and
$51 million).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


<!-- Field: Page; Sequence: 62; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>12. RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">The following transactions were conducted with
related parties during the three-month periods ended March&nbsp;31, 2020 and March&nbsp;31, 2019:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Expenses</B></FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 65%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchases of goods and services from Miffin</FONT></TD>
    <TD STYLE="width: 17%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(53</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(50</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Purchases of goods and services from EPM</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(9</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(10</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Lease of towers and related services from HTA (i)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other expenses</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(6</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(67</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>)</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>(61</B></FONT></TD>
    <TD STYLE="border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>HTA ceased to be a related party on October 15, 2019
(note 14).</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Three months ended March 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Income / gains</B></FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 66%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Sale of goods and services to Miffin</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">78</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">73</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Sale of goods and services to EPM</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other income / gains</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>82</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>76</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As at March&nbsp;31, 2020 and December 31, 2019,
the Group had the following balances with related parties:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at December 31, 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Liabilities</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 66%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Payables to Guatemala joint venture(i)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">380</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">361</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Payables to Honduras joint venture(ii)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">140</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">133</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Payables to EPM</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">33</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">37</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Payables to Panama non-controlling interests</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>553</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>531</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Interest bearing shareholder loans of which $353 million
are due after more than one year.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(ii)</I></TD><TD><I>Mainly advances for dividends expected to be declared
in 2020 and shareholder loans.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>12. RELATED PARTY TRANSACTIONS (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at December 31, 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Assets</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 64%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Receivables from Guatemala and Honduras joint ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">20</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">23</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Receivables from EPM</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">3</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Receivable from AirtelTigo Ghana (i)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">44</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">43</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Other accounts receivable</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>71</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>73</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Disclosed under Other non-current assets in the statement
of financial position.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>13. FINANCIAL INSTRUMENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">Other than the items disclosed
below, the fair values of financial assets and financial liabilities approximate their carrying values as at March&nbsp;31, 2020
and December 31, 2019:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Carrying value</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Fair value(i)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at December 31, 2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: gray 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>As at December 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Financial liabilities</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 40%; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Debt and financing</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6,410</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">5,972</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6,035</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">6,229</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #808285; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(i)</I></TD><TD><I>Fair values are measured with reference to Level 1
(for listed bonds) or 2.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Derivative financial instruments</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Currency and interest rate swap contracts</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">MIC S.A. entered into swap contracts in order
to hedge the foreign currency and interest rate risks in relation to the SEK 2 billion (approximately $211 million) senior unsecured
sustainability bond issued in May 2019. These swaps are accounted for as cash flow hedges as the timing and amounts of the cash
flows under the swap agreements match the cash flows under the SEK bond. Their maturity date is May 2024. The hedging relationship
is highly effective and related fluctuations are recorded through other comprehensive income. At March&nbsp;31, 2020, the fair
values of the swaps amount to a liability of $23 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Our operations in El Salvador and Costa Rica
also entered into several swap agreements in order to hedge foreign currency and interest rate risks on certain long term debts.
These swaps are accounted for as cash flow hedges and related fair value changes are recorded through other comprehensive income.
At March&nbsp;31, 2020, the fair values of these swaps amount to liabilities of $21 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Interest rate and currency swaps are measured
with reference to Level 2 of the fair value hierarchy</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">There are no other derivative financial instruments
with a significant fair value at March&nbsp;31, 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Call and put options - Panama</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: #808285">As of March&nbsp;31,
2020, the put option liability is valued at $255 million (December 31, 2019</FONT>: <FONT STYLE="font-size: 10pt; color: #808285">$264
million) (being the higher of the value of the 'Transaction Price' put option and fair market value - for further details refer
to our 2019 consolidated financial statements). Changes in the value of the put option liability are recorded in the Group's statement
of income under 'other non-operating (expenses) income, net' (see note 6).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Both call options are currently not exercisable
and have therefore no value as of March&nbsp;31, 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>14. EQUITY INVESTMENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">As at March&nbsp;31, 2020 and December 31, 2019,
Millicom has the following investments in equity instruments measured at fair value through profit and loss under IFRS 9:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>March 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Investment in Jumia</FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">14</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">32</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Investment in HT</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">278</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">338</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Equity investment - total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>292</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>371</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Jumia Technologies AG (&ldquo;Jumia&rdquo;)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On April 11, 2019, Jumia completed its IPO at
the offer price per share of $14.5 and shares started trading on the NYSE on April 12, 2019. Post IPO, Millicom holds 6.31% of
the outstanding shares of Jumia.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">At March&nbsp;31, 2020, the closing price of
a Jumia share was $2.92, which values Millicom's investment at $14 million (level 1). The changes in fair value of $(18) million
for the three-month period ended March&nbsp;31, 2020 (March&nbsp;31, 2019: N/A) is shown under 'Other non-operating (expenses)
income, net' (see note 6).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>Helios Towers plc (&ldquo;HT&rdquo;)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In October 2019, Helios Towers plc completed
its IPO on the London Stock Exchange at a price of GBP 1.15 per share valuing the company at enterprise value of approximately
$2.0 billion and a market capitalization of $1.45 billion. Post IPO , Millicom holds 16.2% of the outstanding shares of HT.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">At March&nbsp;31, 2020, the closing price of
a HT share was GBP 1.385, which values Millicom's investment at $278 million (level 1). The changes in fair value of $(61) million
for the three-month period ended March&nbsp;31, 2020 (March&nbsp;31, 2019: N/A) is shown under 'Other non-operating (expenses)
income, net' (see note 6).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>15. INVESTMENTS IN JOINT VENTURES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">Joint ventures are businesses over which Millicom
exercises joint control as decisions over the relevant activities of each, such as the ability to upstream cash from the joint
ventures, require unanimous consent of shareholders. Millicom determines the existence of joint control by reference to joint venture
agreements, articles of association, structures and voting protocols of the board of directors of those ventures.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">At March&nbsp;31, 2020, the equity accounted
net assets of our joint ventures in Guatemala, Honduras and Ghana totaled $3,423 million (December 31, 2019: $3,346 million). These
net assets do not necessarily represent statutory reserves available for distribution as these include consolidation adjustments
(such as goodwill and previously unrecognized assets and assumed liabilities recognized as part of the purchase accounting). Out
of these reserves, $142 million (December 31, 2019: $142 million) represent statutory reserves that are unavailable to be distributed
to the Group. During the period ended March&nbsp;31, 2020, Millicom&rsquo;s joint ventures paid $24 million (December 31, 2019:
$237 million) as dividends or dividend advances to the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>in millions of U.S dollars</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-top: #A7A7A7 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2020</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Guatemala(i)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Honduras (i)</B></FONT></TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom; width: 69%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Opening Balance at January 1, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,089</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>708</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Results for the period</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">41</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">4</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #EEF1F9">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">Currency exchange differences</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">(4</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #808285">)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>Closing Balance at March 31, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>2,130</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #003A66"><B>708</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #A7A7A7 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><I>(i) Share of profit is recognized under &lsquo;Share
of profit in the joint ventures in Guatemala and Honduras&rsquo; in the statement of income.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>16. IPO &ndash; MILLICOM&rsquo;S OPERATIONS
IN TANZANIA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">In June 2016, an amendment to the Electronic
and Postal Communications Act (&ldquo;EPOCA&rdquo;) in the Finance Act 2016 required all Tanzanian licensed telecom operators to
sell 25% of the authorized share capital in a public offering on the Dar Es Salaam Stock Exchange. In December 2019, the Group
filed the draft prospectus with the Tanzania Capital Market and Securities Authority with the view to initiate the listing process
in H1 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="background-color: rgb(0,6,64); vertical-align: top; text-align: left"><TD STYLE="text-align: left; vertical-align: middle; width: 70%"><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>Unaudited Interim Condensed Consolidated Financial Statements</B></FONT></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #CBF8FF; text-indent: 9pt"><FONT STYLE="font-size: 11pt"><B>for the three-month period ended March 31, 2020</B></FONT></P><P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 1in"></P><P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #CBF8FF; text-indent: 0.75in"></P></TD><TD STYLE="text-align: center; vertical-align: middle; width: 30%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66"><B>17. SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #003A66">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285"><B><I>Costa Rica Acquisition</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">On April 29, 2020, Millicom communicated in a
press release that it refutes Telefonica&rsquo;s recent public communications alleging that the conditions to closing the Share
Purchase Agreement (SPA) for the acquisition of Telef&oacute;nica&rsquo;s operating subsidiary in Costa Rica have been met.&nbsp;
Millicom further notes that, in the event that the pending regulatory approvals for the transaction are not issued by May 1, 2020,
it intends to terminate the SPA in accordance with the terms of the agreement. As communicated in a press release dated February
20, 2019, Millicom entered into the SPA on that date to acquire Telefonica&rsquo;s Costa Rica mobile business subject to customary
closing conditions, which included the issuance of required regulatory approvals, certain of which have not yet been issued. The
SPA establishes an end date of May 1, 2020, after which either party may terminate the agreement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #808285">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 5.85pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>MILLICOM INTERNATIONAL
        CELLULAR S.A.</B></FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 10pt"></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Salvador Escalon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 10pt">Salvador Escalon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President, General Counsel</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">Date: April
30, 2020</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
