TIGO PARAGUAY ANNOUNCES EARLY TENDER RESULTS AND AN EARLY SETTLEMENT DATE AND EXTENSION OF THE ENTIRE CONSIDERATION

Tigo Paraguay Announces Early Tender Results, Early Settlement and Amended Tender Offer to Purchase Up to $55,000,000 in aggregate principal amount of its 5.875% Senior Notes due 2027

PARAGUAY, November 20th, 2022 – Telefónica Celular del Paraguay SAE (“Telecel”) today announced (i) the advanced acquisition results of its previously announced cash tender offer (the “Offer”) up to an aggregate nominal amount of US$55 million (the ” Maximum Amount”) of its 5.875% Senior Notes due 2027 (the “Notes”), (ii) the Early Settlement Date (as defined below), and (iii) Amendments to the Tender Offer. The Tender Offer is being made pursuant to the terms of a tender offer dated November 4 2022 (as amended hereby and as amended or supplemented from time to time, the “Tender Offer”) and is subject to certain terms and conditions described therein. Capitalized terms used in this press release but not otherwise defined have the same meaning as the attributed in the purchase offer.

Details of the Takeover Offer

Telecel has been notified by DF King & Co., Inc., as Information Agent and Tender Agent, that as of 5:00 p.m. New York City time on November 18, 2022 (“Early Tender Time”), $47.019 million has been received for the aggregate principal amount of the Notes valid submitted and not validly withdrawn at or before the Early Tender Time. The consideration for each US$1,000 principal amount of Notes validly tendered (and not validly withdrawn) on or before the Early Tendering Time and accepted for purchase pursuant to the Tender Offer (the “Aggregate Consideration”) is US$927.50 . The Aggregate Consideration includes an early tender payment (the “Early Tender Payment”) of US$30.00 per US$1,000 of principal amount of such Notes. Holders whose Notes are accepted for purchase in the tender offer will also receive accrued…