VEON Receives Licence from U.S. Treasury’s OFAC, Amends 2025 and 2027 Notes

Amsterdam, 9 July 2024: VEON Ltd. (Nasdaq: VEON and Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (“VEON” or the “Company”), is pleased to announce that, following the consent of its respective bondholders and the receipt of a licence from U.S. Treasury’s Office of Foreign Assets Control (OFAC), it has now amended the original VEON Holdings B.V. notes due April 2025, June 2025 and November 2027 (collectively, the “Original Notes”).

VEON Holdings will no longer be required to make principal or interest (including any accrued interest) payments under the Original Notes. As such, the Original Notes are effectively economically cancelled. In May and June 2024, VEON Holdings B.V. issued new April 2025, June 2025 and November 2027 notes to eligible investors who participated in the consent solicitation or the subsequent exchange. VEON Holdings also executed the early redemption of its September 2025 and September 2026 notes in full on 18 June 2024.

With these amendments, VEON now successfully concludes the consent solicitation process launched in April 2024. VEON also settled the residual deferred consideration related to the disposal of PJSC Vimpelcom.

“VEON is committed to creating and protecting value for its investors. We thank our bondholders, as well as the regulators, most notably those in the United States where VEON is listed, for their trust and continuous support” said Kaan Terzioglu, VEON Group CEO.

VEON shares continue to trade unrestricted on Nasdaq and Euronext-Amsterdam. Our investors can contact VEON Investor Relations at ir@veon.com for any further questions.

About VEON VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on Nasdaq and Euronext. For more information visit: https://www.veon.com.

Disclaimer This 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 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, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.

Contact Information:

Hande Asik Group Director of Communication pr@veon.com

Faisal Ghori Group Director of Investor Relationsir@veon.com

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