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Earnings Release Q2 2021 tigô MILLICOM THE DIGITAL LIFESTYLE Luxembourg , July 29 , 2021 Building momentum and delivering results Group highlights Q2 2021 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 . • • Double digit revenue growth in Q2 2021 , with growth in all countries and business units . Operating profit up 45.7 % in Q2 2021 , buoyed by higher revenue . Debt reduction continued , driving a significant reduction in leverage . Announcement of a $ 100 million share buy - back program . Financial highlights ( $ millions ) Revenue Operating Profit Loss attributable to owners Q2 2021 Q2 2020 % change H1 2021 H1 2020 % change 1,089 970 12.3 % 2,178 2,057 5.9 % 135 93 45.7 % 250 226 10.5 % ( 100 ) ( 115 ) ( 13.4 ) % ( 58 ) ( 238 ) ( 75.7 ) % Latin America segment highlights¹ - Q2 2021 Our Latin America ( " Latam " ) segment includes our Guatemala and Honduras joint ventures as if fully consolidated . • Service revenue up 11.7 % compared to Q2 20 and stable compared to Q1 2021 . • In Home , solid 100,000 HFC customer net additions drove service revenue growth of 13.2 % . • . . Mobile continued to perform strongly , with record post - paid net additions , including 220,000 in Colombia . EBITDA grew 14.0 % year - on - year , reflecting the robust service revenue growth and lower bad debt . Capex was $ 240 million in Q2 and $ 407 million in H1 , up 11.9 % year - on - year , reflecting increased levels of growth - related investment . OCF was $ 380 million in Q2 and $ 851 million in H1 , up 8.8 % year - on - year organically ; we remain on track to reach our full year target of at least $ 1.4 billion . Organic Latam segment highlights ( $ millions ) Q2 2021 Q2 2020 % change Organic % change H1 2021 H1 2020 % change % change Revenue 1,545 1,360 13.6 % 12.8 % 3,076 2,865 7.4 % 7.6 % Service Revenue 1,419 1,270 11.7 % 10.9 % 2,831 2,665 6.2 % 6.4 % EBITDA 620 544 14.0 % 14.1 % 1,258 1,144 10.0 % 9.8 % EBITDA Margin 40.1 % 40.0 % 0.2 pt 40.9 % 39.9 % 1.0 pt Capex 240 190 26.4 % 407 364 11.9 % OCF ( EBITDA - Capex ) 380 354 7.4 % 7.8 % 851 781 9.0 % 8.8 % Millicom Chief Executive Officer Mauricio Ramos commented : " We had an outstanding Q2 . We built on our robust Q1 performance and delivered double - digit growth in both service revenue and EBITDA . In Colombia , we now have the best mobile network , and we capitalized on this in Q2 by leading the market in portability and by adding a record number of new postpaid customers . Our rapid customer and revenue growth is a direct result of our unwavering commitment to delivering the best customer experience , including network quality and reliability . With that in mind , and considering our healthy cash flow generation , we have accelerated investments that we expect will help us drive faster growth in all our businesses going forward . In light of our strong operational and financial performance and the favorable outlook for the remainder of the year , we are resuming shareholder remuneration with a share buyback program of up to $ 100 million . We believe that our 1 Service revenue , EBITDA , EBITDA margin , Capex , OCF and Organic growth are non - IFRS measures . See page 12 for a description of these measures and for reconciliations to the nearest equivalent IFRS measures . 1