Mr. Brad Horwitz reports

TRILOGY INTERNATIONAL PARTNERS INC. ANNOUNCES C$27.5 MILLION DISTRIBUTION TO SHAREHOLDERS AND DEPARTURE OF CHIEF FINANCIAL OFFICER ERIK MICKELS

Trilogy International Partners Inc.'s board of directors has declared a return of capital distribution to the holders of common shares of the company as part of the winding up, discontinuance and reorganization of its business pursuant to a plan of liquidation adopted by the board on June 10, 2022. The return of capital distribution will be in the aggregate amount of $27.5-million (or approximately $21-million (U.S.)), which represents 31 cents per common share. Shareholders living outside of Canada will receive the distribution in U.S. dollars in an amount reflecting the foreign exchange rate applicable on the date of distribution.

In connection with the distribution, the board confirmed a reduction in the stated capital of the common shares by an aggregate amount equal to $27.5-million (or approximately $21-million (U.S.)), consistent with reductions approved by holders of common shares at a special meeting on March 15, 2022.

The distribution is scheduled to be paid on July 28, 2023, to holders of common shares of record as of the close of business on July 19, 2023. The NEX board of the TSX Venture Exchange has determined to implement its due bill trading procedures with respect to the distribution of 31 cents per common share. The common shares are expected to commence trading on a due bill basis at the opening of trading on July 18, 2023, and to commence trading ex distribution on July 31, 2023. The due bill redemption date is expected to be Aug. 1, 2023.

This distribution of net cash proceeds follows the release to the company in June of funds that were held in escrow in connection with the company's May, 2022, sale of its New Zealand subsidiary, Two Degrees Group Ltd.

Following the distribution, the company will hold approximately $8-million (U.S.) as a reserve for the payment of expenses for continued financial reporting and other compliance obligations through May, 2028, when its remaining indemnification obligations related to the 2degrees sale are scheduled to expire, after which time the company expects to distribute any remaining assets to shareholders and dissolve.

The company also announced today that Erik Mickels, its senior vice-president and chief financial officer, is departing, effective July 31, 2023. Mr. Mickels is leaving to become the chief financial officer of MarketWise Inc., a Nasdaq-listed investment research company. Brad Horwitz, the company's president and chief executive officer, will assume responsibility as the company's chief financial officer.

John Stanton, the company's chairman of the board of directors, noted: "Erik has played a key role for Trilogy in building our businesses, leading our public offering and guiding the successful exit of our operating companies. On behalf of the board, we thank Erik for his contributions and leadership over the last nine years."

Mr. Horwitz added: "Erik has been a superb partner, and we wish him continued success at MarketWise. As for Trilogy, as we wind up our operations, we will be able to handle routine reporting and compliance obligations with minimal administrative resources."

About Trilogy International Partners Inc.

The company is the parent of Trilogy International Partners LLC, which was formed by wireless industry veterans Mr. Stanton, Theresa Gillespie and Mr. Horwitz. Trilogy LLC's founders have bought, built, launched and operated communications businesses in 15 international markets and the United States.

Prior to the disposal of its operating subsidiaries in New Zealand and Bolivia, Trilogy LLC was a multinational provider of wireless voice and data and fixed broadband communications services, including local, international long distance and roaming services.

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