The information in this section should be read in conjunction with the more complete discussion that appears under Quantitative and Qualitative Disclosures About Market Risk in our 2025 Form 10-K. We are exposed to market risk in the normal course of our business operations due to our investments in various countries and ongoing investing and financing activities. Market risk refers to the risk of loss arising from adverse changes in foreign currency exchange rates, interest rates and stock prices. The risk of loss can be assessed from the perspective of adverse changes in fair values, cash flows and future earnings. As further described below, we have established policies, procedures and processes governing our management of market risks and the use of derivative instruments to manage our exposure to such risks. Cash and Investments We invest our cash in highly liquid instruments that meet high credit quality standards. We are exposed to exchange rate risk to the extent that the denominations of our cash and cash equivalent balances, revolving lines of credit and other short-term sources of liquidity do not correspond to the denominations of Liberty Latin America’s short-term liquidity requirements. In order to mitigate this risk, we actively manage the denominations of our cash balances in consideration of Liberty Latin America’s forecasted liquidity requirements. Foreign Currency Rates The relationships between the (i) CRC and JMD and (ii) the U.S. dollar, which is our reporting currency, are shown below, per one U.S. dollar: June 30, 2026 December 31, 2025 Spot rates: CRC 454.00 497.47 JMD 157.23 159.08 Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Average rates: CRC 456.30 506.57 469.65 505.75 JMD 157.15 158.20 156.76 157.35 Interest Rate Risks In general, we seek to enter into derivative instruments to protect against increases in the interest rates on our variable-rate debt. Accordingly, we have entered into various derivative transactions to reduce exposure to increases in interest rates. We use interest rate derivative contracts to exchange, at specified intervals, the difference between fixed and variable interest rates calculated by reference to an agreed-upon notional principal amount. At June 30, 2026, we paid a fixed or capped rate of interest on 87% of our total debt, which includes the impact of our interest rate derivative contracts. We generally seek to align the final maturity dates of our various portfolios of interest rate derivative instruments with the respective maturities of the underlying variable-rate debt. In this regard, we use judgment to determine the appropriate maturity dates of our portfolios of interest rate derivative instruments, taking into account the relative costs and benefits of different maturity profiles in light of current and expected future market conditions, liquidity issues and other factors. For additional information concerning the impacts of these interest rate derivative instruments, see note 5 to our condensed consolidated financial statements. Sensitivity Information Information concerning the sensitivity of the fair value of certain of our more significant derivative instruments to changes in market conditions is set forth below. The potential changes in fair value set forth below do not include any amounts associated with the remeasurement of the derivative asset or liability into the applicable functional currency. For additional information, see notes 3 and 5 to our condensed consolidated financial statements. 69 C&W Interest Rate Derivative Contracts Holding all other factors constant, at June 30, 2026, an instantaneous increase (decrease) in the relevant base rate of 100 basis points (1.0%) would have increased (decreased) the aggregate fair value of the C&W interest rate derivative contracts by approximately $106 million ($145 million). Liberty Costa Rica Foreign Currency Forward Contracts Holding all other factors constant, at June 30, 2026, an instantaneous increase (decrease) of 10% in the value of the Costa Rica Colon relative to U.S. dollar would have increased (decreased) the aggregate fair value of the Liberty Costa Rica forward derivative contracts by approximately $19 million ($19 million). Projected Cash Flows Associated with Derivative Instruments The following table provides information regarding the projected cash flows associated with our derivative instruments. The U.S. dollar equivalents presented below are based on interest rates and exchange rates that were in effect as of June 30, 2026. These amounts are presented for illustrative purposes only and will likely differ from the actual cash payments or receipts required in future periods. For additional information regarding our derivative instruments, including our counterparty credit risk, see note 5 to our condensed consolidated financial statements. Payments (receipts) due during: Total Remainder of 2026 2027 2028 2029 2030 Thereafter in millions Projected derivative cash payments (receipts), net: Interest-related (a) $ (16.7) $ (19.1) $ (9.7) $ 4.8 $ 4.8 $ 6.2 $ (29.7) Other (b) 12.6 7.3 — — — — 19.9 Total $ (4.1) $ (11.8) $ (9.7) $ 4.8 $ 4.8 $ 6.2 $ (9.8) (a)Includes the interest-related cash flows of our interest rate derivative contracts. (b)Includes amounts related to our foreign currency forward contracts. 70