Document:

Document

AMENDMENT No 1
to CUSTODIAN AGREEMENT dated as of 16 December, 2011 between MILLICOM INTERNATIONAL CELLULAR S.A., a public limited liability company incorporated under the laws of Grand-Duchy of Luxembourg (the “Company”) and SKANDINAVISKA ENSKILDA  BANKEN AB (publ), a banking association organized under the laws of Sweden and any successor as custodian hereunder (the “Custodian”) (the “Amendment”).
Capitalised terms unless otherwise defined in this Amendment will have the meaning as set out in the Custodian Agreement.
WITNESSETH:
WHEREAS, the Company and the Custodian wish to formalise some changes to the Custodian Agreement in relation to the parties’ obligations in respect of the annual general meeting (AGM) to be held on June 25th 2020, or any other date announced by the Company, and all subsequent shareholders meetings of the Company until this Amendment is terminated, noting that this new procedure was applied by the parties also in relation to the AGM 2019;
WHEREAS, the Company have agreed with Euroclear Sweden AB (“Euroclear”) that Euroclear will perform certain duties involving proxy management in relation to shareholders’ meetings to be held in the Company, as the Custodian does not provide online voting solutions at the time of this Amendment No. 1;
WHEREAS, the parties’ obligations in respect of a shareholders meeting in the Company are regulated in Section 4.07 of the Custodian Agreement and in section 8 of the General Terms and Conditions;
WHEREAS, the Company and the Custodian agreed to amend the Custodian Agreement with respect to the AGM 2020 and to any other shareholders’ meeting to be held in the Company on the terms as set out in this Amendment;

    

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NOW THEREFORE, the parties agrees as follows:
A)  Notwithstanding what is stated in Section 4.07 of the Custodian Agreement (Voting of Deposited Securities) and without amending the wording therein, the parties have agreed that the procedures and duties as set out in Exhibit C to this Amendment will be applied in connection with the AGM 2020 and with respect to any subsequent shareholders’ meetings in the Company.
B)  The parties agree that the Custodian will not assume any responsibility or liability whatsoever under the Custodian Agreement or the General Terms and Conditions for the activities to be performed by Euroclear according to Exhibit C.
C)  The Company agrees and undertakes to indemnify and hold harmless the Custodian with respect to any amount, cost or damage which the Custodian may be liable for to a Holder under the General Terms and Conditions as a result of any act or service for a shareholders’ meeting performed or omitted to be performed by Euroclear pursuant to Exhibit C.
D)  The Company agrees to keep SEB informed of the planning process of the shareholder meetings.
E)  This Amendment shall take effect as of 1 June 2020 and remain in effect in relation to the procedures relating to all shareholders meetings of the Company, until this Amendment is terminated by any of the parties.
F)  Except for Section 4.07 as follows from the above, all terms and conditions of the Custodian Agreement and the General Terms and Conditions, shall remain in full force.
G)  This Amendment may be terminated by either party by giving the other party a written notice of termination not less than ten calendar days in advance. The Custodian may also terminate this Amendment immediately if the agreement 

    

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between Euroclear and the Company setting out the duties and activities to be performed by Euroclear pursuant to Exhibit C is terminated.
H)  7.05 (Governing Law) of the Custodian Agreement shall apply also in relation to this Amendment.

			
	

IN WITNESS WHEREOF MILLICOM INTERNATIONAL CELLULAR S.A. and SKANDINAVISKA ENSKILDA BANKEN AB (publ) have duly executed this Amendment as of June 11, 2020 / 9:18 PM CEST.
									
	MILLICOM INTERNATIONAL CELLULAR S.A.
	By:	/s/ Patrick Gill
	Name:	Patrick Gill
	Title:	Company Secretary

									
	MILLICOM INTERNATIONAL CELLULAR S.A.
	By:	/s/ Bruno Nieuwland
	Name:	Bruno Nieuwland
	Title:	Chief Administrative officer

    

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	SKANDTNAVISKA ENSKILDA BANKEN AB (publ)	
	By:	/s/ Björn Welander		By:	/s/ Fredrick Martinson
	Name:	Björn Welander		Name:	Fredrick Martinson
	Title:	Head of Securites & Wealth Operations		Title:	

    

Exhibit C to Amendment 1 to the Custodian Agreement
Procedure regarding activities and responsibilities for the Company, the Custodian and Euroclear in relation to the AGM 2020. In respect of extraordinary shareholders meetings in the Company, the procedures of this Exhibit C shall apply to the extent applicable.
						
	Responsible	Activity
	Millicom	The Company shall inform SEB no later than (2) months in advance of any annual shareholders meeting and as regards any extraordinary shareholders meetings as soon as practically possible and prudent.
	Millicom /SEB	Millicom informs SEB the record date (“AGM Record Date”) and agree on the time plan activities.
	Millicom	Millicom send the initial draft of the notification form of attendance and the SDR proxy form to Euroclear and SEB for review.
	Euroclear /SEB	Euroclear /SEB review the notification form of attendance and the proxy form.
	Millicom	Millicom sends draft of the convening notice of the AGM, short announcement of the AGM convening notice to SEB and Euroclear for review.
	Millicom	Millicom approval of the notification form of attendance and the proxy form.
	SEB	SEB reviews the short announcement of the AGM.
	SEB	SEB request Euroclear to open up the procedure for temporarily voting registration. SEB instructs Euroclear to open up a procedure in order for nominees to be able to temporarily re-register SDRs in the name of the actual Holder (beneficial owner) prior to the AGM Record Date.1
	SEB	SEB orders a “bolagsstämmoakitebok” from Euroclear Sweden AB.
	SEB	SEB sends an information letter via mail to Euroclear Sweden AB, which explains the procedure for this year’s AGM in Millicom. This mail will be sent by Euroclear Sweden AB to Swedish custodians, institutions and brokers/dealers as nominees in the VPC system. They will in their turn have the possibility to inform their clients on how to proceed in order to attend and vote at the AGM.
	Millicom	Millicom publishes the notification form of attendance at the AGM and the SDR holder proxy form on Millicom’s website (www.M illicom.com).
	Millicom	Millicom sends the short Swedish announcement of the AGM convening notice to SvD for publication, and post a press release of the convening notice in accordance with the General Terms and Conditions for the SDRs together with the convening notice in full on Millicom’s website according to Luxembourg law.
(www.Millicom.com)

	Millicom	Millicom sends Euroclear final version of Invitation letter/proxy and notification form for distribution.
	Euroclear	Euroclear receives final version of Invitation Letter/proxy and notification form.
	Euroclear	Euroclear sends to SDR Holders the Invitation Letter together with the notification form of attendance and the proxy form in order to vote. In the information are codes in order for the SDR Holder to vote electronically.
	Euroclear	Euroclear sends a reminder of the information mail via Euroclear.
	Euroclear	Euroclear gather the received notification forms of attendance and the proxy forms.

1 Under paragraph 4.3 Assignment to Euroclear Sweden. The issuer undertakes to carry out all measures and otherwise fulfill the prerequisites which is required for Euroclear Sweden to be able to fulfill its obligations under this Agreement. The issuer also undertakes to notify Euroclear Sweden in good time of each assignments which the Issuer intends to hand over to Euroclear Sweden and to consult with Euroclear Sweden on the scheduling of assignments.

    

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	Euroclear	Euroclear tabulates the received notification forms of attendance and the proxy forms.
	Euroclear	Euroclear reconciles the received notification forms of attendance and the proxy forms with the SDR holders list at per the AGM Record Date. Only Holders registered as owners of SDRs on the AGM Record Date may participate / vote at the AGM.
	SEB	SEB issues proxies authorising all the SDR Holders registered on the AGM Record Date to represent SEB in its capacity as shareholder at the AGM and send it to the Company.
	Euroclear/SEB	Euroclear or SEB does not have the right to accept notifications to attend the meeting that was not received before or on the record date.
	Euroclear	Euroclear reports the preliminary results of the received notification forms of attendance and the proxy forms to Millicom and SEB.
	Euroclear	Euroclear closes the voting period – Deadline to submit notification forms and proxy forms.
	Euroclear	Euroclear reports the final results of the received notification forms of attendance and the proxy forms to Millicom and SEB.
	Euroclear	Euroclear sends the proxy and notifications forms signed by the SDR Holders to Millicom, ensuring the proxy and notifications forms are received by Millicom in good time before the shareholder meeting.
	Millicom/Euroclear	Millicom and Euroclear consolidate the final results of received notification forms and proxy forms from SDR Holders and shareholders.

									
	Millicom International Cellular S.A.		
	/s/ Patrick Gill		/s/ Bruno Nieuwland
	Patrick Gill		Bruno Nieuwland
	Company Secretary		Chief Administrative OfficerDocument

AMENDMENT No. 2

to the Custodian Agreement, dated as of 16 December 2011, amended by Amendment No. 1 dated as of 11 June 2020, between Millicom International Cellular S.A., a public limited liability company incorporated under the laws of Grand Duchy of Luxembourg (the “Company”) and Skandinaviska Enskilda Banken AB (publ), a banking association organized under the laws of Sweden and any successor as custodian hereunder (the “Custodian”) (the “Custodian Agreement”), and to the General Terms and Conditions for Swedish Depository Receipts Regarding Shares in Millicom International Cellular S.A., dated as of January 2012 (the “General Terms and Conditions”) (“Amendment No. 2”).

Capitalised terms unless otherwise defined in this Amendment No. 2 will have the meaning ascribed to them in the Custodian Agreement or the General Terms and Conditions, as applicable.

WITNESSETH:

WHEREAS, American Stock Transfer & Trust Company, LLC, as transfer agent with respect to the common shares listed on the Nasdaq Global Select Market in the United States, has been replaced by Broadridge Corporate Issuer Solutions, Inc.;

WHEREAS, the name of the Swedish stock exchange has changed to “Nasdaq Stockholm AB,” and the name of the Swedish Financial Instruments Account Act has changed to the “Swedish Central Securities Depositories and Financial Instruments (Accounts) Act”; and

WHEREAS, the registered address of the Company has changed.

NOW THEREFORE, the parties agree as follows:

1.CUSTODIAN AGREEMENT

The following amendments shall be made to the Custodian Agreement:

(i)SECTION 1.01 is hereby deleted in its entirety and replaced by the following wording;

“SECTION 1.01. Broadridge. The term “Broadridge” shall mean Broadridge Corporate Issuer Solutions, Inc.”

For the avoidance of doubt, all references in the Custodian Agreement to the term “AST” shall be deemed to mean “Broadridge.”

(ii)SECTION 1.54 is hereby deleted in its entirety and replaced by the following wording;

“SECTION 1.05. The Company. The term “Company” shall mean Millicom International Cellular S.A., a public limited liability company (société anonyme) incorporated under the 

laws of the Grand Duchy of Luxembourg, with its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Register of Commerce and Companies under number B 40.630.”

For the avoidance of doubt, all references in the Custodian Agreement to the Company’s registered office at “15, rue Léon Laval, L-3372 Leudelange” shall be deemed to mean “2, rue du Fort Bourbon, L-1249 Luxembourg.”

(iii)SECTION 1.16 is hereby deleted in its entirety and replaced by the following wording;

“SECTION 1.16.  Registrar. The term “Registrar” shall mean, as of the date hereof, Skandinaviska Enskilda Banken AB (publ), Luxembourg Branch, in its capacity as keeper of the share register of the Company, and any other firm or corporation that may be appointed by the Company and approved by the Custodian and which is established in Luxembourg and duly authorized to act as share registrar in accordance with Luxembourg law and practices.”

For the avoidance of doubt all references in the Custodian Agreement to “Registrar” shall be deemed to mean “Skandinaviska Enskilda Banken AB (publ), Luxembourg Branch.” 

(iv)SECTION 1.19 is hereby deleted in its entirety and replaced by the following wording;

“SECTION 1.19. Stockholmsbörsen. The term “Stockholmsbörsen” shall mean Nasdaq Stockholm AB.” 

For the avoidance of doubt, all references in the Custodian Agreement to “Stockholmsbörsen” shall be deemed to mean “Nasdaq Stockholm AB.” 

(v)SECTION 1.20 is hereby deleted in its entirety and replaced by the following wording;

“SECTION 1.20. Swedish Central Securities Depositories and Financial Instruments (Accounts) Act. The term “Swedish Central Securities Depositories and Financial Instruments (Accounts) Act” means Lag (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument as amended from time to time, or any successor Act governing the registration of securities in Sweden.” 

For the avoidance of doubt, all references in the Custodian Agreement to “Swedish Financial Instruments Accounts Act” shall be deemed to mean “Swedish Central Securities Depositories and Financial Instruments (Accounts) Act.”

2.GENERAL TERMS AND CONDITIONS

The following amendments shall be made to the General Terms and Conditions:

(i)SECTION 1.1 is hereby deleted in its entirety and replaced by the following wording;

“1.1     Shares can be deposited on account of the depository receipt holder with SEB, or with a custodian appointed by SEB on account of SEB, in which case SEB or the custodian appointed by SEB shall be registered as owners of the Shares in (i) the Company’s share register located in Luxembourg either held by the Company or by another Luxembourg institution duly licensed to act as a registrar in accordance with Luxembourg law and practices that are appointed by the Company and approved by SEB with an assignment to maintain a register of the Company’s owners or, (ii) the register in relation to the Shares kept by Broadridge Corporate Issuer Solutions, Inc. (“Broadridge”) in the United States. Depository receipt holder means an owner of a depository receipt or such an owner’s nominee (hereinafter referred to as “SDR Holder”).”

For the avoidance of doubt, all references in the General Terms and Conditions to “AST” shall be deemed to mean “Broadridge.” 

(ii)     SECTION 1.2 is hereby deleted in its entirety and replaced by the following wording;

“1.2    The SDRs shall be registered in a book-entry verification register maintained by Euroclear (hereinafter referred to as the “Euroclear Register”) in accordance with the Swedish Central Securities Depositories and Financial Instruments (Accounts) Act (Sw. Lag (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument). No certificates representing the SDRs will be issued. SEB will not accept deposit of fractions of shares.”

For the avoidance of doubt, all references in the General Terms and Conditions to “Swedish Financial Instruments Accounts Act” shall be deemed to mean “Swedish Central Securities Depositories and Financial Instruments (Accounts) Act.”

(iii)    Change of Name. “NASDAQ OMX Stockholm” will in the entire General Terms and Conditions be changed to “Nasdaq Stockholm AB.”

For the avoidance of doubt, all references in the General Terms and Conditions to “NASDAQ OMX Stockholm” shall be deemed to mean “Nasdaq Stockholm AB.” 

3.NOTICE

The SDR Holders shall be notified of the amendments by post, in accordance with the routines applied by Euroclear and Sections 13 and 14 of the General Terms and Conditions, and the updated General Terms and Conditions shall be posted to the webpage of the Company.

4.EFFECTIVE DATE

The amendments, both in relation to the Custodian Agreement and the General Terms and Conditions, shall take effect as of 28 February 2022.

5.REMAINDER OF AGREEMENT

All other terms and conditions of the Custodian Agreement, as amended, and the General Terms and Conditions shall remain in full force.
                
IN WITNESS WHEREOF, MILLICOM INTERNATIONAL CELLULAR S.A. and SKANDINAVISKA ENSKILDA BANKEN AB (publ) have duly executed this Amendment No. 2 to the CUSTODIAN AGREEMENT and the GENERAL TERMS AND CONDITIONS on this day of 28 February 2022.

									
	MILLICOM INTERNATIONAL CELLULAR S.A.	
	By:	/s/ Patrick Gill
		Name: Patrick Gill	
		Title:   Company Secretary	

									
	MILLICOM INTERNATIONAL CELLULAR S.A.	
	By:	/s/ Bruno Nieuwland
		Name: Bruno Nieuwland	
		Title:   Director Administration	

						
	SKANDINAVISKA ENSKILDA BANKEN AB (publ)
	By:	/s/ Olof Brodin
		Name: Olof Brodin
		Title:   Authorized Signatory

									
	SKANDINAVISKA ENSKILDA BANKEN AB (publ)
	By:	/s/ Tomas Engel	
		Name: Tomas Engel
		Title:   Authorized Signatory

[Signature Page to Amendment No. 2]

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