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Millicom to invest $135 million to modernize its mobile networks in partnership with Ericsson in Honduras, Paraguay, and Bolivia

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Millicom to invest $135 millionto modernize its mobile networks in partnership with Ericsson in Honduras, Paraguay, and Bolivia

Millicom has partnered with Ericsson for LTE, 5G-ready technologyto bring the best mobile experience to more people in Latin America

Luxembourg,July 8, 2021 – Millicom, a leading provider of fixed and mobile services operating under the TIGO brand in Latin America, announced it will be investing $135 million over the next two to three years to upgrade its mobile network in partnership with Ericsson (NASDAQ: ERIC) in three key Latin American markets: Honduras, Paraguay and Bolivia.

COVID-19 has accelerated the digital wave and need for connectivity region-wide, and Millicom needs additional capacity to manage its increased traffic as it continues to expand its network in the region. Partnering with Ericsson will enable Millicom to achieve this by modernizing its networks with LTE, 5G-ready technology for greater speed and enhanced customer experience.

The main new functionality introduced with this modernization is carrier aggregation, which allows the combination of different parts of the spectrum.

Millicom will modernize its network using the latest Ericsson Radio System products and solutions, paving the way for 5G deployment across the continent. Ericsson will also replace TIGO’s current 4G packet core and introduce Ericsson’s dual-mode 5G Core as part of the project. This modernization is expected to have a significant impact on TIGO’s network performance.

Across the three countries, Millicom, through its TIGO operations, will expand its network coverage to reach an additional 712 municipalities and 2.5 million people.

“Millicom has a strategy to achieve and maintain network leadership in all the markets in which it operates. We want to offer the best mobile experience in the market and connect more people in both urban and rural areas”, said Xavier Rocoplan, EVP, Chief Technology and Information Officer at Millicom. “With this project, we further our purpose to build the best digital highways where we operate, to connect people, improve lives, and help develop our communities.”

"Ericsson is leading in 5G. With our drive for innovation, we are incredibly pleased to unite with Millicom and bring the crucial connectivity to Latin America while paving the way towards 5G. Working alongside such a prominent telecommunication provider, we double-down on our commitment to closing the digital divide globally. While the pandemic has changed much more than simply how we communicate, connectivity remains as crucial as ever” said Arun Bansal, President of Europe and Latin America, Ericsson.

A 2020 study by the IICA, IDB, and Microsoft1 found that 32 percent of the Latin American and Caribbean population – 244 million people – have no internet access. By prioritizing long-term investments in its networks, Millicom is fulfilling its commitment to providing high-quality connection to more people in the communities it serves to bridge this digital divide, strengthening its network leading position in the process. Mobile network expansion initiatives such as this will help accelerate 4G LTE adoption, furthering this mission for greater digital inclusion, while introducing a 5G platform at the same time.

To learn more, visit millicom.com.

-END-

For further information, please contact:

Millicom Press:
Vivian Kobeh, Corporate Communications Director
+1 786-628-5300
press@millicom.com



Ericsson Press:
Adriana Mahecha Segura, External Activation & Engagement LATAM North & Caribbean
+55 5511914347
adriana.margarita.mahecha.segura@ericsson.com

Investors:
Michel Morin, VP Investor Relations
+1 786-628-5270 investors@millicom.com



Sarah Inmon, Investor Relations Director
+1 786-628-5303 investors@millicom.com

About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers,
with a cable footprint of more than 12 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

About Ericsson
Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business. It is designed to help our customers go digital, increase efficiency, and find new revenue streams. Ericsson’s innovation investments have delivered the benefits of mobility and mobile broadband to billions of people around the world. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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