Millicom (Tigo) Q1 2024 Earnings Release Luxembourg, May 8, 2024 – Millicom is pleased to announce its first quarter 2024 results. Please find below links to the Q1 2024 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements. Highlights* Revenue grew 8.6% driven by Service revenue up 8.8%, due to stronger currencies and organic growth of 3.8%, up from 3.2% in Q4 attributable to large B2B contracts in Panama and a return to positive growth in Guatemala. Operating profit increased 70.6%, reflecting the revenue increase and a 3.4% decline in operating expenses, while EBITDA grew 24.5% (20.0% organically) despite $30 million of restructuring costs incurred in the period. Colombia EBITDA rose 50.3% (24.2% organically) with a record EBITDA margin of 36.5% despite an $18 million restructuring charge. Excluding this one-off, Colombia's EBITDA margin was 41.4%. Operating cash flow rose 53.0% organically to $519 million, reflecting both the robust EBITDA growth and a 38.9% reduction in capex due mostly to slower phasing of investments in 2024 compared to 2023. Net income of $92 million in Q1 2024 was up strongly from $3 million in Q1 2023, reflecting the significant increase in operating profit. Leverage declined to 3.10x at the end of March 2024 from 3.29x at year-end 2023.  Financial highlights ($ millions) Q1 2024 Q1 2023 % change Organic % Change Revenue 1,487 1,369 8.6% 3.8% Operating Profit 324 190 70.6%   Net Profit 92 3 NM