<SEC-DOCUMENT>0000950103-22-008961.txt : 20220523
<SEC-HEADER>0000950103-22-008961.hdr.sgml : 20220523
<ACCEPTANCE-DATETIME>20220523062512
ACCESSION NUMBER:		0000950103-22-008961
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220523
DATE AS OF CHANGE:		20220523

SUBJECT COMPANY:	

	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:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-263203
		FILM NUMBER:		22949544

	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

FILED BY:		

	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:		FWP

	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>
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<SEQUENCE>1
<FILENAME>dp173573_fwp.htm
<DESCRIPTION>FORM FWP
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>FREE WRITING PROSPECTUS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Filed pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Registration Statement No. 333-263203</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Millicom
International Cellular S.A.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>Soci&eacute;t&eacute; anonyme</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">Registered office: 2, Rue du Fort Bourbon, L-1249
Luxembourg</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">Grand Duchy of Luxembourg</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">R.C.S. Luxembourg: B40630</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">(the &ldquo;<B>Company</B>&rdquo;)</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Notice on the offering of common shares (<I>actions</I>)
of the Company, including common shares represented by Swedish Depository Receipts </B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Not for distribution other than in the United
States of America, Sweden, Norway, Denmark and Finland</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">This notice is made by application of article 420-26
(3) of the Luxembourg law of 10 August 1915 concerning commercial companies, as amended.</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">Pursuant to the authorisation provided for in article
5 of the articles of association of the Company, the board of directors of the Company (the &ldquo;<B>Board of Directors</B>&rdquo;) resolved
on May 17, 2022 (the &ldquo;<B>Resolutions</B>&rdquo;), with the final pricing having been determined by the Chairman of the Board of
Directors and the Company&rsquo;s chief executive officer on May 18, 2022 pursuant to the delegation of authority provided for in the
Resolutions, to approve an offering of the Company&rsquo;s common shares under a rights issue (the &ldquo;<B>Offering</B>&rdquo;) of an
aggregate of up to 70,357,088 new common shares (<I>actions</I>) with a nominal value of USD 1.50 each (the &ldquo;<B>New Shares</B>&rdquo;,
each being a &ldquo;<B>New Share</B>&rdquo;), including common shares represented by Swedish Depository Receipts (&ldquo;<B>SDRs</B>&rdquo;,
each being an &ldquo;<B>SDR</B>&rdquo;) pursuant to the Custodian Agreement dated as of December 16, 2011, between Skandinaviska Enskilda
Banken AB (publ) (&ldquo;<B>SEB</B>&rdquo;) and the Company, as amended, representing a capital increase of up to USD 105,535,632 within
the limits of the Company&rsquo;s authorised share capital, in compliance with the preferential subscription rights of the shareholders
of the Company.</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">The Offering comprises a rights offering of up
70,357,088 New Shares, including in the form of SDRs, under (i) an offering of New Shares, including common shares represented by SDRs,
in the United States (the &ldquo;<B>US Offering</B>&rdquo;) pursuant to a registration statement on Form F-3 filed on March 1, 2022 with
the U.S. Securities and Exchange Commission (&ldquo;<B>SEC</B>&rdquo;) (such registration statement (including the prospectus included
therein) and the related prospectus supplement, the &ldquo;<B>US Prospectus</B>&rdquo;) and (ii) a public offering of New SDRs governed
by Swedish law in Sweden, Norway, Denmark and Finland pursuant to a prospectus approved by the Swedish Financial Supervisory Authority
and notified to the competent regulator in each of Norway, Denmark and Finland for use in those jurisdictions (the &ldquo;<B>Swedish Prospectus</B>&rdquo;),
as well as an offering in other eligible jurisdictions in reliance on the available exemptions in such jurisdictions (the &ldquo;<B>Swedish
Offering</B>&rdquo;).</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">The Swedish Prospectus was published on May 20,
2022 and is available for viewing on https://www.fi.se/en/our-registers/prospektregistret and by eligible investors at www.millicom.com/investors.
The prospectus supplement was filed with the SEC and published on May 18, 2022 and the US Prospectus is available for viewing at http://www.sec.gov
and by eligible investors at www.millicom.com/investors.</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">The new SDRs being offered for subscription under
the Swedish Offering are also being offered concurrently in the US Offering. The rights to subscribe for new common shares and new SDRs
under the US Offering and Swedish Offering are not interchangeable.</P>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The New Shares that form the subject matter of
the Offering carry the same rights as all other existing shares in the Company and confer no additional rights or benefits.</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">All of the Company's common shares, including the
New Shares, are subject to and governed by Luxembourg law. The New Shares will rank equally in all respects with the Company's common
shares already in issue and will carry the same dividend rights as the existing shares.</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">The Company&rsquo;s common shares trade on the
Nasdaq Global Select Market (&ldquo;<B>Nasdaq</B>&rdquo;) under the symbol &ldquo;TIGO&rdquo; and the SDRs trade on the Main Market of
the Nasdaq Stockholm Aktiebolag (&ldquo;<B>Nasdaq Stockholm</B>&rdquo;) under the symbol &ldquo;TIGO SDB&rdquo;.</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"><B><U>Record date</U></B></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">Holders of common shares of the Company (other
than holders of those common shares represented by SDRs and excluding treasury shares) will receive one common share right (a &ldquo;<B>Common
Share Right</B>&rdquo;) for each common share owned of record at 5.00 p.m. (New York time) on May 23, 2022.</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">Holders of SDRs, each SDR representing one common
share of the Company, will receive one SDR right (a &ldquo;<B>SDR Right</B>&rdquo;) for each SDR owned of record on May 23, 2022 (end
of day, Central European Time).</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"><B><U>Basic subscription privilege (i.e. preferential
subscription right) and subscription price</U></B></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">The exercise of 10 Common Share Rights will entitle
the holder thereof to subscribe for 7 New Shares at a subscription price of 10.61 US dollars per New Share.</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">The exercise of 10 SDR Rights will entitle the
holder thereof to subscribe for 7 new SDRs, each such new SDR representing one New Share, at a subscription price of 106.00 Swedish Krona
per new SDR. Holders of SDR Rights that validly subscribe and fully pay for new SDRs pursuant to the basic subscription privilege will
be issued one interim SDR (collectively, the &ldquo;<B>Interim SDRs</B>&rdquo;) for each new SDR that is subscribed and paid for.</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">The subscription price in Swedish Krona has been
determined based on the subscription price in US dollars, using the SEK/USD exchange rate published by the Swedish Central Bank (<I>Sveriges
Riksbank</I>) on May 17, 2022, as a result of which all the New Shares (whether represented by SDRs or not) will be issued at the same
subscription price.</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"><B><U>Subscription period</U></B></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">The subscription period for the Common Share Rights
will begin on May 27, 2022 and will close at 5.00 p.m. (New York time) on June 13, 2022.</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">The subscription period for the SDR Rights will
begin on May 27, 2022 and will close at 3.00 p.m. (Central European Time) on June 13, 2022.</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">Common Share Rights and SDR Rights that are not
exercised by a holder during the applicable subscription period will expire and become null and void, and holders of such rights will
not receive any compensation for them.</P>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B><U>Oversubscription privilege</U></B></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">Each holder of a Common Share Right that exercises
its Common Share Rights in full will have an oversubscription privilege entitling them to subscribe for and purchase, at the applicable
subscription price, up to the number of New Shares equal to, in the aggregate, the total number of New Shares issuable pursuant to Common
Share Rights that are not exercised pursuant to the basic subscription privilege by the end of the applicable subscription period, plus
an additional number of New Shares equal to the number of new SDRs that are not exercised and oversubscribed pursuant to the basic subscription
and oversubscription privileges under the SDR Rights by the end of the applicable subscription period (the &ldquo;<B>Available Oversubscription
Shares</B>&rdquo;). Each holder of an SDR Right that exercises its SDR Rights will have an oversubscription privilege entitling them to
subscribe for and purchase, at the applicable subscription price, up to the number of new SDRs equal to, in the aggregate, the total number
of new SDRs issuable pursuant to SDR Rights that are not exercised pursuant to the basic subscription privilege by the end of the applicable
subscription period, plus an additional number of new SDRs equal to the number of New Shares that are not exercised and oversubscribed
pursuant to the basic subscription and oversubscription privileges under the Common Share Rights by the end of the applicable subscription
period (the &ldquo;<B>Available Oversubscription SDRs</B>&rdquo; and together with the Available Oversubscription Shares, the &ldquo;<B>Available
Oversubscription Securities</B>&rdquo;).</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"><B><U>Direct subscription</U></B></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">Any Available Oversubscription Securities that
are not subscribed pursuant to the oversubscription privileges referred to above will be available for subscription by eligible investors
in the Swedish Offering in the form of new SDRs without the use of preferential subscription rights as further set out in the Swedish
Prospectus (the &ldquo;<B>Direct Subscription</B>&rdquo;).</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"><B><U>Rump placement</U></B></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">The Company has entered into an underwriting agreement
pursuant to which the underwriters thereunder have severally but not jointly agreed, on the terms and conditions set forth therein, to
purchase their relevant proportion of the aggregate number of new SDRs and New Shares (with the allocation between new SDRs and New Shares
to be determined by the underwriters following consultation with the Company) (such New Shares and new SDRs, the &ldquo;<B>Rump Shares</B>&rdquo;)
equal to the Available Oversubscription Securities minus the aggregate portion of the Available Oversubscription Securities subscribed
pursuant to (i) the exercise by holders of their respective oversubscription privileges and (ii) in the case of certain new SDRs only,
if any, the Direct Subscription. The underwriters intend to offer and sell the Rump Shares, if any, to potential investors (the &ldquo;<B>Rump
Placement</B>&rdquo;).</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"><B><U>Modalities for the exercise of the Common
Shares Rights and SDRs Rights</U></B></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">The modalities for the exercise of the Common Shares
Rights and the SDRs Rights are set out in the Swedish Prospectus and the US Prospectus.</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"><B><U>Listing of Common Shares Rights, SDRs Rights
and Interim SDRs</U></B></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">The Company has applied to have the Common Shares
Rights admitted for trading on Nasdaq, where they are expected to begin trading under the symbol &ldquo;TIGOR&rdquo; on May 27, 2022 and
to continue trading through June 8, 2022.</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">The Company has applied to have the SDR Rights
admitted for trading on Nasdaq Stockholm, where they are expected to begin trading under the symbol &ldquo;TIGO TRV SDB P1&rdquo; on May
27, 2022 and to continue trading through June 8, 2022.</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">The Company has applied to have the Interim SDRs
admitted for trading on Nasdaq Stockholm, where they are expected to begin trading under the symbol &ldquo;TIGO SDB P1&rdquo; on May 27,
2022 and to continue trading through June 22, 2022.</P>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B><U>Completion of the issuance of the New Shares
under the Offering</U></B></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">The New Shares that are subscribed for and fully
paid by exercise of the Common Share Rights (by application of the basic subscription privilege and the oversubscription privilege referred
to above) and the New Shares that are subscribed for and fully paid by exercise of the SDR Rights (by application of the basic subscription)
will be issued on or around June 21, 2022 pursuant to a decision of an authorized director or daily manager of the Company, as the case
may be, in accordance with the Resolutions and the delegation of powers from the Board of Directors approved therein. Thereupon, such
authorized signatory will appear, in person or represented by a representative, before a notary residing in the Grand Duchy of Luxembourg
to have the issue of the relevant New Shares and the corresponding amendment to the articles of association of the Company recorded in
a notarial deed on the same date in accordance with applicable Luxembourg law.</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">The New Shares that are subscribed for and fully
paid in the context of the Rump Placement will be issued on or around June 21, 2022 pursuant to a decision of an authorized director or
daily manager of the Company, as the case may be, in accordance with the Resolutions and the delegation of powers from the Board of Directors
approved therein. Thereupon, such authorized signatory will appear, in person or represented by a representative, before a notary residing
in the Grand Duchy of Luxembourg to have the issue of the relevant New Shares and the corresponding amendment to the articles of association
of the Company recorded in a notarial deed on the same date in accordance with applicable Luxembourg law.</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">The New Shares that are subscribed for and fully
paid by exercise of the SDR Rights (by application of the oversubscription privilege and Direct Subscription) will be issued on or around
June 29, 2022 pursuant to a decision of an authorized director or daily manager of the Company, as the case may be, in accordance with
the Resolutions and the delegation of powers from the Board of Directors approved therein. Thereupon, such authorized signatory will appear,
in person or represented by a representative, before a notary residing in the Grand Duchy of Luxembourg, in order to have the issue of
the relevant New Shares and the corresponding amendments to articles of association of the Company recorded in a notarial deed on the
same date in accordance with applicable Luxembourg law.</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">All the New Shares will be duly recorded in the
Company&rsquo;s shares register.</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"><B><U>Important general information</U></B></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">The information contained in this notice is not
intended for, and must not be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to persons resident
or physically present in any jurisdiction where such action is wholly or partially subject to legal restrictions, or would require additional
prospectuses, registration or measures, or otherwise would be in conflict with the rules of such jurisdictions or could not be made without
the application of exemptions in such jurisdictions. The information in the notice does not constitute an offer to acquire or subscribe
for any securities in the Company (the &ldquo;<B>Securities</B>&rdquo;) to any person in such jurisdictions. Any failure to comply with
the restrictions may constitute a violation of applicable securities regulations.</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"><B><U>Important information for readers in the
United States</U></B></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">This communication is not an offer to sell or the
solicitation of an offer to buy any securities, and we will not offer or sell the securities referred to herein in any jurisdiction in
which such offer or sale would be unlawful. The rights offering referred to in this communication will be made only by means of a prospectus
meeting the requirements of the Securities Act of 1933, as amended.</P>

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


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company has filed the US Prospectus with the
SEC. Before you invest, you should read the US Prospectus and the documents incorporated by reference therein, as well as the other documents
the Company has filed with the SEC for more complete information about the Company and the rights offering. You may get these documents
for free by visiting EDGAR on the SEC&rsquo;s website at www.sec.gov. Alternatively, to request a copy of the prospectus, please contact
Broadridge Corporate Issuer Solutions, Inc., Millicom&rsquo;s agent for the U.S. common share rights offering, toll-free at +1 (888) 789-8409.</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"><B><U>Important information for readers in the
EEA</U></B></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">Within the European Economic Area (&ldquo;<B>EEA</B>&rdquo;),
other than in Sweden, Norway, Denmark and Finland, no Securities have been or will be offered to the public other than in accordance with
an applicable exemption under the Prospectus Regulation (EU) 2017/1129 (the &ldquo;<B>Prospectus Regulation</B>&rdquo;).</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"><B><U>Important information for readers in the
United Kingdom</U></B></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">Any offer of Securities in the United Kingdom will
be made pursuant to an exemption under Regulation (EU) 2017/1129 as it forms part of the domestic law of the United Kingdom by virtue
of the European Union (Withdrawal) Act 2018 from the requirement to publish a prospectus for offers of securities.</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">This notice is for distribution only to, and is
directed only at, persons who are (i) outside the United Kingdom; (ii) persons having professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the &ldquo;<B>Order</B>&rdquo;);
(iii) persons falling within Article 49(2)(a) to (d) (&ldquo;high net worth companies, unincorporated associations etc.&rdquo;) of the
Order; or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000 (as amended, &ldquo;<B>FSMA</B>&rdquo;) in connection with the issue or sale of any securities may otherwise
lawfully be communicated or caused to be communicated (all such persons together being referred to as &ldquo;<B>relevant persons</B>&rdquo;).</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">Any investment or investment activity to which
this notice relates is available only to, and will be engaged in only with, relevant persons. Any person who is not a relevant person
should not act or rely on this notice or any of its contents.</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"><B><U>Important information for readers in Luxembourg</U></B></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">No &ldquo;offer of the Securities to the public&rdquo;
within the meaning of the Luxembourg law on prospectuses for securities dated July 16, 2019 (the &ldquo;<B>Prospectus Law</B>&rdquo;)
or the Prospectus Regulation is made in the Grand Duchy of Luxembourg, unless in accordance with applicable exemptions under the Prospectus
Law and the Prospectus Regulation. The expression an &ldquo;offer of securities to the public&rdquo; in relation to any Securities in
the Grand Duchy of Luxembourg means the communication in any form by any means of sufficient information on the terms of the offer and
the Securities to be offered so as to enable an investor to decide to purchase or subscribe for the Securities.</P>

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


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