Millicom CLO Amends Form 3 to Include Performance Cash Award Units

Executive Overview

On October 13, 2026, Salvador Escalon, Chief Legal & Compliance Officer of Millicom International Cellular S.A. ($TIGO), filed an amended initial statement of beneficial ownership on Form 3/A. The amendment updates his initial holdings as of March 18, 2026, to include 17,273 Performance Cash Award (PCA) Units that were inadvertently omitted from his initial Form 3 filing.

Filing & Holding Details

• Security: Performance Cash Award Units
• Underlying Common Shares: 17,273
• Award Details: Granted under the issuer's 2025 Performance Cash Award Program, reflecting achievement of performance conditions at 173.41% of target.
• Vesting Schedule: Vests in substantially equal installments on January 1, 2027, and January 1, 2028, subject to continued service.
• Settlement: Cash-settled equivalent based on the closing price of one common share plus accrued dividends.

Market Impact & Significance

This filing carries Low trading significance as it represents an administrative correction rather than market transaction activity or discretionary open-market buying/selling. It clarifies previously unrecorded derivative compensation holdings.