On May 11, 2015, Esteban Naranjo accepted the position of Vice President, Finance Operations of NII Holdings Inc. and, in connection with the acceptance, voluntarily moved from the position of Vice President, Corporate Controller and Principal Accounting Officer to his new role. The Board of Directors of the Company appointed Tim Mulieri, 35, to the position of Vice President, Corporate Controller and Principal Accounting Officer of the Company effective as of May 11, 2015. In this role, Mr. Mulieri will report directly to Juan Figuereo, the Company's Executive Vice President, Chief Financial Officer.

Mr. Mulieri has served as the Company's Senior Director and Assistant Controller since September 2013 and has served in various positions in the Company's finance department since August 2012. Prior to joining the company, Mr. Mulieri served as a senior manager at KPMG LLP from August 2005 to August 2012.