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Beeline Uzbekistan Moves its Headquarters to Tashkent's IT Park, Deepening Commitment to Uzbekistan's Digital Future

1. VEON opens Beeline Uzbekistan headquarters in Tashkent IT Park. 2. Commitment to digital future highlighted with 2,000 employees based there. 3. 9.5 million active users signal strong demand for digital services. 4. Uzbekistan's Digital 2030 strategy supports innovation and investment opportunities. 5. VEON's long-term investments boost Uzbekistan’s digital economy.

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Why Bullish?

The establishment of a new headquarters enhances VEON's strategic positioning in Uzbekistan. Similar past expansions in emerging markets have led to stock upticks.

How important is it?

The expansion indicates VEON’s growth potential in a burgeoning market, likely enhancing investor confidence.

Why Long Term?

Consistent investments and technology developments are key for sustained growth. Historical examples show that early investments in digital infrastructure yield long-term profitability.

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TMUSVZAMT
Dubai and Tashkent, May 20, 2025:  VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” and together with its subsidiaries, the “Group”), announces that its digital operator Beeline Uzbekistan celebrated the opening of its new headquarters in the Tashkent IT Park on May 20th. The new Beeline Uzbekistan headquarters in IT Park will be home to Beeline Uzbekistan’s employee base of around 2,000, including the operator’s digital services teams, VEON AdTech and Beelab (the developer of Beeline Uzbekistan’s fintech platform Beepul), as well as tower operator National Tower Infrastructure LLC. IT Park houses Uzbekistan’s leading technology, digital and communications companies and is structured as Uzbekistan’s innovation hub. The relocation demonstrates VEON’s commitment to investing in Uzbekistan’s digital future, as well as to expanding the development and provision of digital services and augmented intelligence products in Central Asia.  “Thanks to the bold vision of our President, Uzbekistan is rapidly transforming into a regional digital hub,” said Sherzod Shermatov, Minister of Digital Technologies. “Through our Digital Uzbekistan 2030 strategy, we are laying the foundations for a thriving digital economy that empowers citizens, supports innovation, and attracts global investment. We welcome partners who, like VEON, share our vision and are helping us turn this vision into a reality through long-term investment, the provision of ambitious digital services, and cutting-edge technologies — all while creating meaningful job opportunities for our youth.” “We are committed to leading the digital transformation of Uzbekistan, not only with our connectivity but also with our digital services such as our fintech app Beepul, super-app Hambi, digital entertainment platforms Kinom and Riitm, and enterprise offerings such as VEON AdTech.  We are glad to see not only the demand expanding for these services, but also the interest of our regulators in creating frameworks that support the digitalization of the country. Beeline Uzbekistan’s move to its IT Park headquarters highlights our role in this ambitious vision,” said Kaan Terzioglu. “Beeline Uzbekistan is committed to advancing inclusive digital ecosystems, from financial services to AI innovation. Across our digital services, we served 9.5 million monthly active digital users in 1Q25. The uptake of these services among our customers is not only an indicator of our dedication to digitalization in the country but also of the broader momentum in Uzbekistan for innovative solutions that extend the benefits of technology to every corner of the country. With our new headquarters in IT Park, we are proud to be at the heart of this momentum,” said Andrey Pyatakhin, CEO of Beeline Uzbekistan. With nearly two decades of investment and innovation in Uzbekistan, VEON remains deeply committed to the country’s digital future. Since entering the market in 2006, VEON has invested in the country’s telecommunications and digital infrastructure, and has continued to expand beyond traditional connectivity, delivering impactful digital financial and AI-powered technologies under VEON’s DO1440 and AI1440 initiatives. About Beeline UzbekistanBeeline Uzbekistan is a digital operator that serves 8.2 million customers with mobile connectivity and 7.6 million total monthly active users across its digital services and applications. Its digital portfolio includes financial services application BeePul, digital-first brand OQ, the recently launched streaming application Kinom and super-app Hambi. Beelab and VEON Adtech are also headquartered in Uzbekistan, contributing to software and IT technologies ecosystem in the country. Beeline Uzbekistan is wholly owned by VEON. About VEONVEON is a digital operator that provides 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. VEON is listed on NASDAQ and headquartered in Dubai. For more information visit: www.veon.com. 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 are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements relating to, among other things, the execution of VEON’s strategy. 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 AsikGroup Director of Strategy and Communicationspr@veon.com Mr. Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, joined Kaan Terzioglu, VEON Group CEO, and Andrey Pyatakhin, CEO of Beeline Uzbekistan, for the inauguration of the Beeline’s new headquarters in IT Park. Mr. Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, joined Kaan Terzioglu, VEON G... Mr. Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, joined Kaan Terzioglu, VEON G...

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