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Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program

1. Millicom has completed its delisting from Nasdaq Stockholm as planned. 2. Last trading day was March 17, 2025, for the SDRs. 3. 5.1 million shares were not withdrawn from the SDR program. 4. SEB will initiate sales of common shares for holders not withdrawing. 5. Millicom continues to operate and expand telecommunications in Latin America.

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FAQ

Why Bearish?

The delisting from Nasdaq Stockholm may indicate decreased investor confidence. Historical delistings have often led to reduced visibility and trading volume, negatively impacting stock performance.

How important is it?

The delisting can affect Millicom's visibility and liquidity in capital markets, likely impacting investor sentiment. Ongoing operations remain strong, but delisting actions introduce risks.

Why Short Term?

Immediate sales of common shares can lead to increased selling pressure. Short-term stock volatility may arise as the market reacts to the delisting effects and share sales.

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Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program Luxembourg, March 24, 2025 – Millicom International Cellular S.A. (“Millicom”), has completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm, in line with previous communications.  The last day of trading was March 17, 2025. As of March 24, 2025, SEB, the custodian bank for SDRs, informed Millicom that holders of SDRs representing approximately 5,110,103 underlying common shares had not taken all the steps needed to withdraw the shares underlying their SDRs(1). In compliance with the SDR terms and conditions and as previously announced, SEB will soon commence sales of these common shares on behalf of such holders. Further information on the delisting process is available in Millicom’s previous press releases. Additional information is also available on the “Nasdaq Stockholm Delisting & Interim Dividend” section of Millicom’s webpage: https://www.millicom.com/investors/Nasdaq_Stockholm_Delisting_and_Interim_Dividend Note: (1) for clarity, previous press releases and documents used the phrase “conversion of SDRs into Millicom U.S. Shares” to describe the withdrawal of the common shares underlying their SDRs, pursuant to the SDR terms and conditions available at: https://ww2-cdn.tigocloud.net/Millicom_General_Terms_and_Conditions_SDR_Consolidated_2022_02a125e16d.pdf -END- For further information, please contact About Millicom Millicom (NASDAQ U.S.: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of December 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg. 

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