Amsterdam, Netherlands, 6 March 2023 07:00 CET: VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON) (“VEON” or the “Company”), a global digital operator that provides converged connectivity and online services, today provides an update on the timing of the ratio change under the Company’s ADR program, previously announced on 6 February 2023 and originally planned to become effective on 6 March 2023. The Company was informed late afternoon on Friday 3 March 2023 by BNY Mellon that the ratio change effectiveness has been postponed as The Depository Trust & Clearing Corporation (“DTCC”) was not prepared to make the new CUSIP with new ratio available on Monday, 6 March 2023 as scheduled. The Company awaits further confirmation from DTCC as to when it will be prepared to make the new CUSIP with new ratio available and will announce the new timing for effectiveness as soon as this is confirmed.

The Company’s original announcement with respect to the ratio change can be found on the Company’s website at this address:https://www.veon.com/media/media-releases/2023/veon-announces-ratio-change-under-its-american-depositary-receipt-adr-program/

About VEONVEON is a global digital operator that currently provides converged connectivity and online services to over 200 million customers in seven dynamic markets. We are transforming people’s lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 8% of the world’s population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.

For more information visit: https://www.veon.com.

Important NoticeThis release is for informational purposes only and shall not constitute a prospectus or an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction, nor shall there be any offer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129.

This communication or information contained herein is not an offer, or an invitation to make offers, to sell, exchange or otherwise transfer securities in the Russian Federation to or for the benefit of any Russian person or entity and does not constitute an advertisement or offering of securities in the Russian Federation within the meaning of Russian securities laws.

Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No. 596/2014.

DisclaimerThis release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding the ADR ratio change. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws and except as set forth above, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Contact InformationVEONGroup Director Investor RelationsNik Kershawir@veon.com

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