<SEC-DOCUMENT>0000950103-22-009174.txt : 20220525
<SEC-HEADER>0000950103-22-009174.hdr.sgml : 20220525
<ACCEPTANCE-DATETIME>20220525061058
ACCESSION NUMBER:		0000950103-22-009174
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220525
DATE AS OF CHANGE:		20220525

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:		22958835

	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>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>dp173733_fwp-subformworights.htm
<DESCRIPTION>FORM FWP
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>FREE WRITING PROSPECTUS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed pursuant to Rule 433</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration Statement No. </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>333-263203</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 15%; font-size: 12pt; text-indent: 0in"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 50px; width: 126px"></TD>
    <TD STYLE="text-align: center; width: 85%; font-size: 12pt; vertical-align: middle"><FONT STYLE="font-size: 18pt"><B>Subscription for SDRs without subscription rights</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 100%">&nbsp;</TD></TR>
</TABLE>

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

<DIV STYLE="float: left; width: 49%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Rights issue 2022</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Send the subscription form to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Nordea Bank Abp, filial i Sverige</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Issuer Services, L850</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>SE-105 71 Stockholm, Sweden</B></P>

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

</DIV>

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

<DIV STYLE="float: right; width: 49%">

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="padding: 4pt; border: Black 1pt solid; width: 100%"><B>Subscription period: </B>27 May &ndash; 13 June 2022<BR><B>Payment: </B>SDRs subscribed for and allotted must be paid for
according to the instructions on the settlement note which will be sent to the subscriber.</TD></TR>
</TABLE>

</DIV>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>Note that Swedish Depositary Receipt (&ldquo;SDR&rdquo;)
holders whose holdings are nominee registered with a bank or other nominee must subscribe for SDRs and effect payment from any allotted
new SDRs, through and in accordance with instructions from the relevant nominee, or if the holding is registered with more than one nominee,
through each of them.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The rights issue in Millicom International Cellular S.A. (&ldquo;<B>Millicom</B>&rdquo;) is conducted with preferential rights for
existing SDR holders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Allotment of SDRs subscribed for without subscription rights will be made in accordance with the principles set out in the prospectus
approved by the Swedish Financial Supervisory Authority on 20 May 2022 and the prospectus supplement filed with the U.S. Securities and
Exchange Commission (&ldquo;<B>SEC</B>&rdquo;) on 18 May 2022.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The subscription price is SEK 106 per new SDR in Millicom.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The subscription form must be received by Nordea Bank Abp, filial i Sverige (&ldquo;<B>Nordea</B>&rdquo;) no later than 13 June 2022
at 15.00 CET.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Subscribed and allotted SDRs must be paid for in cash in accordance with the instruction on the contract note that will be sent on
or about 17 June 2022.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>No notification will be sent out to those who have not received allotment.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</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 STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Address information may be obtained from Euroclear Sweden AB.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>In accordance with the prospectus approved by
the Swedish Financial Supervisory Authority on 20 May 2022 or, for U.S. holders only, the prospectus supplement filed with the SEC on
18 May 2022 (which, together with the accompanying prospectus, is part of Millicom&rsquo;s registration statement on Form F-3 filed with
the SEC on March 1, 2022), I/we hereby apply for subscription for SDRs in Millicom without subscription rights, as stated below:</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 50%; border: Black 1pt solid; font-size: 12pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: center; font-size: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>SDR</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Subscribed and allotted SDR shall be registered
on VP account number:</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 9%; border: Black 1pt solid; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>0</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>0</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>0</B></FONT></TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Incomplete or incorrectly completed subscription
forms may be disregarded. No adjustments or additions can be made to the pre-printed text. Please note that the application is irrevocable.</B></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Customers of Nordea&rsquo;s securities operations
are informed that no assessment will be made as to whether or not this financial instrument is appropriate for the customer. Nordea is
hereby irrevocably authorised to carry out the subscription of SDRs on the conditions described in the above mentioned prospectus and
prospectus supplement. By signing this subscription form I/we confirm that I/we have read and understood the above and that I/we are not
and do not act on behalf of any such person whose participation requires further measures as set out above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>National Client Identifier &ndash; NCI (mandatory
    if the investor is a natural person) </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in; color: red"><B><I>Please
note that NCI must be provided if you are a natural person!</I></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Citizenship, state all if several</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Birthdate (year, month, day)</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">NCI</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>LEI code (Legal Entity Identifier &ndash; mandatory if the investor is a legal person)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Information requested below must be completed, please use capital letters!</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Personal identity no./Registration no.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Telephone daytime</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P></TD>
    <TD ROWSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Personal data that the shareholder submits in connection with the subscription
    or that is otherwise registered in connection therewith, is used by Nordea for the purposes of preparation and administration of the subscription.
    Personal data may also be dealt with by other companies with which Nordea cooperates. If a shareholder wishes to receive information on
    the personal data relating to him which is held by Nordea the shareholder can request such information from Nordea by writing to the address
    below. If a shareholder wishes to correct inaccurate or misleading information, he/she can contact Nordea at the address below.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nordea Bank Abp, filial i Sverige</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Personuppgiftsfunktionen, G 129</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10571 Stockholm</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Surname/Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">First Name</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Postal code</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">City/Country</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Address (street, P.O. box, etc)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt">Place, date</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Signature</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Important information</B><BR>
The rights issue is not being made, directly or indirectly, to persons resident or located in Australia, Canada, Hong Kong, Singapore,
or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by
(A) Swedish law and (B) with respect to the concurrent offering of rights, common shares and SDRs being made in the United States or to
&ldquo;U.S. Persons&rdquo; (as defined in Regulation S under the U.S. Securities Act of 1933) pursuant to a registration statement on
Form F-3, including a prospectus dated March 1, 2022 (&ldquo;<B>Base Prospectus</B>&rdquo;), and related prospectus supplement dated May
18, 2022 (together with the Base Prospectus, the &ldquo;<B>US Prospectus</B>&rdquo;), filed with the SEC, U.S. law. Consequently, the
Swedish prospectus may not be distributed in or into the United States or any country or jurisdiction where such distribution, or the
offering, requires such measures or otherwise would violate applicable law. The pre-printed issue statement and payment form, this subscription
form and other ancillary documents related to the rights issue (the &ldquo;<B>Other Swedish Offering Documents</B>&rdquo;) may also not
be distributed in or into any country or jurisdiction where such distribution would violate applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Holders of SDR rights who are located in or residents
of the United States or are otherwise &ldquo;U.S. Persons&rdquo; must receive the US Prospectus in addition to the Other Swedish Offering
Documents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">No offering material, rights or other securities
may be distributed, in or into any country or jurisdiction where such distribution or action would, actually or potentially, violate any
sanctions administered or enforced by the U.S. Government (including, without limitation, the Office of Foreign Assets Control of the
U.S. Department of the Treasury (&ldquo;<B>OFAC</B>&rdquo;) or the U.S. Department of State or other U.S. sanctions authority), the United
Nations Security Council (&ldquo;<B>UNSC</B>&rdquo;), the European Union, the United Kingdom, or other relevant sanctions authority.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Each person subscribing for new SDRs using this subscription
form will be deemed to have declared, warranted and agreed that, by submitting this form and making payment, or by accepting delivery
of the subscription rights or the new ordinary SDRs, that it (A) either (i) is not, and that at the time of acquiring or subscribing for
new SDRs will not be, a U.S. Person or located or resident in the United States, Australia, Canada, Hong Kong, Singapore, or any other
jurisdiction where participation would require an additional prospectus or other regulatory approval, or acting on a non-discretionary
basis on behalf of, or for the account or benefit of, any such person or (ii) is or is acting for a U.S. Person or is or is acting for
a person located or resident in the United States and has received a copy of the US Prospectus, and (B) is not, and at the time of acquiring
or subscribing for new SDRs will not be, a Russian or Belarusian person or located or resident in Russia or Belarus or any other jurisdiction
where participation would violate any sanctions administered or enforced by the U.S. Government (including, without limitation, OFAC or
the U.S. Department of State or other U.S. sanctions authority), UNSC, the European Union, the United Kingdom, or other relevant sanctions
authority, or acting on a non-discretionary basis on behalf of, or for the account or benefit of, any such person. This subscription form
is for distribution only to, and directed only at, persons who (i) are outside the United Kingdom; (ii) have 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) are persons falling within Article 49(2)(a) to (d) (&ldquo;high net worth companies,
unincorporated associations etc.&rdquo;) of the Order; or (iv) are 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), 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;relevant persons&rdquo;). This subscription form must not be acted on or relied on by persons who are not relevant persons.
Any investment or investment activity to which this document relates is available only to or will be engaged in only with, relevant persons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Any application for subscription and purchase of
new SDRs in violation of the restrictions described above may be void.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Any dispute regarding the offer according to the
Swedish prospectus or legal relationships associated therewith shall be determined upon application of the substantive laws of Sweden
and exclusively by a Swedish court of law, except as otherwise required by applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Nordea is acting exclusively for Millicom and no
one else in connection with the right issue. Nordea will not regard any other person (whether or not a recipient of this application form)
as a client in relation to the rights issue and will not be responsible to anyone other than Millicom for providing the protections afforded
to its clients nor for the giving of advice in relation to the rights issue or any other transaction, matter or arrangement referred to
in this application form. The fact that Nordea handles the application forms on behalf of Millicom does not affect the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Nordea is receiving this form in its capacity as
settlement agent in respect of the rights issue. For the avoidance of doubt, Nordea is not registered as a broker or dealer in the United
States of America and in its capacity as financial advisor will not be engaging in direct communications relating to the rights issue
with investors located within the United States of America (whether on a reverse-inquiry basis or otherwise).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Important Information regarding NCI and LEI</B><BR>
According to Directive 2014/65/ EU on markets in financial instruments (MiFID II), all investors must have a global identification code
from 3 January 2018 in order to carry out a securities transaction. These requirements require legal entities to apply for registration
of a Legal Entity Identifier (&ldquo;<B>LEI</B>&rdquo;) code, and natural persons need to state their NID (National ID or National Client
Identifier) to subscribe for SDRs. Each person&rsquo;s legal status determines whether a LEI code or NID number is required and the book-entry
account operator may be prevented from performing the transaction to any person if LEI or NID number is not provided. Legal persons who
need to obtain a LEI code can contact the relevant authority or one of the suppliers available on the market. Those who intend to</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">subscribe for SDRs are encouraged to apply for registration
of a LEI code (legal persons) or to acquire their NID number (natural persons) well in advance, as this information is required to be
submitted with the subscription form.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Important Information for SDR holders in the United
States and U.S. Persons</B><BR>
This communication is not an offer to sell or the solicitation of an offer to buy any securities, and neither Nordea nor Millicom will
offer or sell the securities referred to herein in any jurisdiction in which such offer or sale would be unlawful. The Rights Issue referred
to in this communication may be made in the United States only by means of a prospectus meeting the requirements of the Securities Act
of 1933, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Millicom filed a registration statement (including
a prospectus) with the SEC on March 1, 2022 covering, among other things, the Rights Issue to which this communication relates. The prospectus
in that registration statement, together with the related prospectus supplement dated May 18, 2022 and the documents incorporated by reference
in the prospectus and prospectus supplement, as well as other documents Millicom has filed with the SEC, are available for free by visiting
EDGAR on the SEC&rsquo;s website at www.sec.gov. The prospectus and related prospectus supplement may also be obtained free of charge
by calling Broadridge Corporate Issuer Solutions, Inc. at +1 (888) 789-8409.</P>

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


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