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VEON to Proceed with USD 35 Million Share Buyback

1. VEON initiates second phase of $100 million share buyback program. 2. The second phase involves $35 million buyback, after $30 million first phase. 3. Management believes ADSs are undervalued and aims to optimize shareholder value. 4. Buybacks will comply with market conditions and legal regulations. 5. VEON operates across six countries, serving nearly 160 million customers.

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FAQ

Why Bullish?

The share buyback indicates management's confidence, which historically supports stock price increases. Similar buybacks from other firms have resulted in positive market reactions.

How important is it?

The buyback program directly impacts share value, influencing investor perception significantly. As VEON is actively repurchasing shares, it showcases financial strength and could attract new investors.

Why Short Term?

Immediate effects on stock price expected during the buyback period, typically around announcements. Buybacks in the past have generated quick upticks in share prices due to increased demand.

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TMUSVZAMT
VEON to Proceed with USD 35 Million Share Buyback Announcement marks second phase of USD 100 million share buyback program announced on August 1, 2024 Dubai, March 20, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that it will shortly commence the second phase of its previously announced share buyback program with respect to the Company’s American Depositary Shares (“ADS”). This second phase of the buyback will be in the amount of up to USD 35 million. The second phase of the share buyback program is being launched after completion of the USD 30 million first phase on January 27, 2025. VEON’s Board of Directors approved a share buyback program of up to USD 100 million on July 31, 2024. The Company continues to believe that its ADSs are undervalued relative to its operational performance and strategic potential. By repurchasing ADSs, VEON aims to optimize shareholder value and strengthen its financial position for future opportunities. The buybacks will be conducted on the open market pursuant to a 10b5-1 plan signed with a registered broker-dealer, and in compliance with Rule 10b-18. Decisions on the timing and the specifics of the buybacks are subject to liquidity considerations, market conditions, applicable legal requirements, and other factors. Such factors have been taken into account in the approval process of the second USD 35 million phase of the program; subsequent phases are expected to be carried out in the same manner, up to the authorized USD 100 million amount. 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. 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 include statements relating to, among other things, VEON’s initiation and continuation of its buyback program. 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, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. There can be no assurance that the initiatives referred to above will be successful. Contact Information  Hande Asik  Group Director of Communications  pr@veon.com Faisal Ghori  Group Director of Investor Relations  ir@veon.com

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