The Nomination Committee’s motivated opinion regarding its proposal of a new Director of the Board at the Extraordinary General Meeting, December 5, 2012

Background

On July 31, 2012, it was announced that Hans-Holger Albrecht had been appointed as President and CEO of Millicom International Cellular S.A. (“Millicom”) with effect from October 31, 2012 and that he would step down as a Board member of Millicom, effective July 31, 2012.

At the Annual General Meeting of Millicom, which was held on May 29, 2012, it was resolved that the number of Directors of the Board should be set at eight. Following Mr. Albrecht’s resignation, the Millicom Board currently consists of the following seven Directors:

Allen Sangines-Krause Paul Donovan Kim Ignatius Omari Issa Livfors Dionisio Romero Paoletti Donna Cordner

The Nomination Committee proposes to the Extraordinary General Meeting, to be held on December 5, 2012, that Mr. Anders Kronborg shall be elected as a new Director of the Millicom Board, thereby bringing the number of Directors back to eight.

Motivated opinion

Mr. Kronborg, aged 48, has a Masters in Economics from Copenhagen University and started his career with the Kinnevik group in 2007 when he was appointed Chief Financial Officer of SA, an international free newspaper group. Since May 1, 2012, Mr. Kronborg is the Chief Operating Officer (COO) of Investment AB Kinnevik. As COO, his focus is on the operating and financial development of Kinnevik's portfolio of companies. Prior to joining Metro, Mr. Kronborg gained extensive experience from the financial operations of media businesses including serving as the CFO of Danish Broadcaster TV2 as well as numerous executive positions with Danish newspaper Group, Berlingske Media A/S.

Mr. Kronborg continues to serve on a number of Kinnevik unlisted subsidiary Boards as well as Metro unlisted subsidiary Boards.

Mr. Kronborg does not hold any financial instruments in Millicom.

Mr. Kronborg would not qualify as independent of major shareholders, but is independent of the Company and its management according to the Swedish Code of Corporate Governance.

The Nomination Committee is of the opinion that the proposed composition of the Board of Directors reflects strong individual credentials and suitable qualifications as well as relevant experience within the key strategic areas for Millicom. These areas include, but are not limited to: operational management of quoted and unquoted companies across a range of industries closely tied to Millicom’s core activities; established track records working within the and FMCG sectors; experience and knowledge from the provision and distribution of products and services related to communications, information, entertainment and mobile financial services. Finally, the Directors’ geographic expertise working in markets within the key Millicom regions of and Africa provide a sound basis for continuing to evaluate and grow Millicom’s share of its core markets as well as add on to its geographic footprint where returns are attractive.

______November 2012 The Nomination Committee of Millicom International Cellular S.A.