Trilogy International Partners Inc. ('TIP Inc.' or the 'Company') (TSX: TRL), an international wireless and fixed broadband telecommunications operator, today announced its unaudited financial and operating results for the second quarter of 2020.

'We are encouraged by the positive trajectory of our New Zealand business in the second quarter,' said Brad Horwitz, President and CEO. '2degrees' performance improved month-onmonth, as businesses have reopened while the government closely monitors the situation.' 'Despite closed retail channels for much of the second quarter, we increased our postpaid mobile and broadband customer bases in New Zealand. Our pre-emptive action in the early days of the pandemic to protect our people, our customers, and our company has positioned us well, and in New Zealand our second quarter adjusted EBITDA and cash grew sequentially and year-overyear on an organic basis.' 'We remain enthusiastic about our business and the resilience of the telecom industry. In normal and in challenging times, we play a critical role in connecting people and enterprise, supporting both the social and the economic fabric of the communities we serve.' 'The COVID-19 pandemic continues to impact Bolivia significantly as a result of strict quarantine measures. We will continue to be disciplined in our operations and prioritize cash conservation as the environment stabilizes there, and more broadly, in Latin America. We remain focused on our balance sheet and liquidity as we navigate this period of uncertainty.'

Conference Call Information

Call Date: Wednesday, August 12, 2020

Call Time: 10:30 a.m. (PT)

North American Toll Free: 1-844-369-8770

International Toll: +1-862-298-0840

About Trilogy International Partners Inc.

TIP Inc. is the parent of Trilogy International Partners LLC ('Trilogy LLC'), an international wireless and fixed broadband telecommunications operator formed by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy LLC's founders have successfully bought, built, launched and operated communications businesses in 15 international markets and the United States. Trilogy LLC, together with its consolidated subsidiaries in New Zealand (Two Degrees Mobile Limited, referred to below as '2degrees') and Bolivia (Empresa de Telecomunicaciones NuevaTel (PCS de Bolivia), S.A., referred to below as 'NuevaTel'), is a provider of wireless voice and data communications services including local, international long distance and roaming services, for both subscribers and international visitors roaming on its networks. Trilogy LLC also provides fixed broadband communications services to residential and enterprise customers in New Zealand.

About this press release

This press release contains information about our business and performance for the three and six months ended June 30, 2020, as well as forward-looking information and assumptions. This discussion should be read together with supplementary information filed on the date hereof under TIP Inc.'s profile on SEDAR (www.sedar.com) and EDGAR (www.sec.gov). The financial information included in this press release was prepared in accordance with U.S. GAAP. In our discussion, we also use certain non-U.S. GAAP financial measures to evaluate our performance. See 'Non-GAAP Measures and Other Financial Measures; Basis of Presentation' for more information. In May 2014, the Financial Accounting Standards Board ('FASB') issued Accounting Standards Update ('ASU') 2014-09, 'Revenue from Contracts with Customers (Topic 606),' and has since modified the standard with several ASUs (collectively, the 'new revenue standard'). We adopted the new revenue standard on January 1, 2019, using the modified retrospective method. This method requires the cumulative effect of initially applying the standard to be recognized at the date of adoption. Financial information prior to our adoption date has not been adjusted. In February 2016, the FASB issued ASU 2016-02 'Leases (Topic 842)', and has since modified the standard with several updates (collectively, the 'new lease standard'). We adopted the new lease standard on January 1, 2020, using the modified retrospective method. This method results in recognizing and measuring leases at the adoption date with a cumulative-effect adjustment to opening retained earnings/accumulated deficit. Financial information prior to our adoption date has not been adjusted. The adoption of the new lease standard resulted in the recognition of an operating lease right of use asset and an operating lease liability as of the adoption date. The adoption of the new lease standard did not have a material impact on the Condensed Consolidated Statements of Operations and Comprehensive Loss or the Condensed Consolidated Statement of Cash Flows. For further information, see 'Note 1 - Description of Business, Basis of Presentation and Summary of Significant Accounting Policies' and 'Note 15 - Leases' to the Condensed Consolidated Financial Statements. All dollar amounts are in United States dollars ('USD') unless otherwise stated. In New Zealand, the Company generates revenues and incurs costs in New Zealand dollars ('NZD'). Fluctuations in the value of the NZD relative to the USD can increase or decrease the Company's overall revenue and profitability as stated in USD, which is the Company's reporting currency.

Contact:

Tel: 425 458-5900

(C) 2020 Electronic News Publishing, source ENP Newswire