Liberty Latin America Reports Q4 & FY 2023 Results

• 186,000 organic broadband and postpaid mobile subscriber net adds in 2023
• Operating income of $518 million; Adj. OIBDA rebased growth of 6% to $1.7 billion
• Puerto Rico integration >80% complete; >800,000 mobile subscribers migrated
• Cash provided by operating activities of $897 million; reported Adj. FCF before distributions to noncontrolling interests of $273 million
• Repurchased $300 million in equity and convertible notes during the year

Denver, Colorado - February 22, 2024: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q4”) and twelve months (“YTD” and “FY”) ended December 31, 2023.

CEO Balan Nair commented, “We ended the year well, generating healthy subscriber and Adjusted OIBDA growth and delivering Adjusted FCF before distributions to noncontrolling interests of $273 million, 43% higher than the prior year.”

“Our commitment to investing in leading infrastructure has created robust, high-speed networks across our fixed, mobile and subsea platforms. At the end of 2023, over 80% of our fixed networks had been upgraded to enable speeds in excess of 1 Gbps and this investment helped us add 81,000 broadband subscribers during the year. Our postpaid mobile base also grew strongly as we added 105,000 subscribers, primarily in Liberty Costa Rica and C&W Caribbean.”

“In addition to our significant organic opportunities, completing the migration of mobile customers in Puerto Rico and the USVI is expected to be a key driver of LLA's future growth. We are on-track to achieve this goal by the end of April, enabling us to conclude our TSA with AT&T by the end of June, which will create significant cost savings and also allow us to drive our mobile business more effectively, removing restrictions that currently impact our commercial flexibility.”

“As we approach the completion of key migration activities we feel it is the right moment to share our medium-term outlook for LLA. We anticipate delivering a mid to high single digit Adjusted OIBDA rebased CAGR and aggregate Adjusted FCF before distributions to noncontrolling interests of more than $1 billion over the next three years. We are confident that through this performance and disciplined capital allocation we will deliver robust stakeholder value growth.”