Commentary & Deal Flow

VEON (Tickers: VEON (NASDAQ) / VEONHD), a global digital operator and one of the leading emerging markets telecom groups, rated BB- by S&P and BB- by Fitch (both stable outlooks), has mandated Barclays and Citi as Joint Global Coordinators and Joint Bookrunners as well as ICBC and Jefferies as Joint Bookrunners and Joint Lead Managers to arrange a series of fixed income investor calls over the course of today, May 18th. An online roadshow presentation has been made available together with a recorded management voice-over. A 144A / RegS dual tranche US$ Benchmark 5NC2 and 7NC3 senior unsecured offering by VEON MidCo B.V., guaranteed by Veon Amsterdam B.V., will follow, subject to market conditions. The issue is expected to be rated in line with corporate ratings. FCA / ICMA stabilization applies. Barclays is coordinating logistics.

*** VEON – MARKETING DETAILS – BARCLAYS LOGISTICS ***

Company Representatives:

Burak Özer – Chief Financial Officer

Anand Ramachandran – Chief Corporate Development Officer

Olivier Watelet – Group Treasurer

Calls Schedule:

1) 11:30 - 12:15 UKT / 12:30 - 13:15 CET / 06:30 - 07:15 ET – 1x1s or Small Group

2) 12:30 - 13:15 UKT / 13:30 - 14:15 CET / 07:30 - 08:15 ET – 1x1s or Small Group

3) 13:30 - 14:15 UKT / 14:30 - 15:15 CET / 08:30 - 09:15 ET – 1x1s or Small Group

4) 14:30 - 15:15 UKT / 15:30 - 16:15 CET / 09:30 - 10:15 ET – 1x1s or Small Group

5) 15:30 - 16:15 UKT / 16:30 - 17:15 CET / 10:30 - 11:15 ET – 1x1s or Small Group

6) 16:30 - 17:15 UKT / 17:30 - 18:15 CET / 11:30 - 12:15 ET – 1x1s or Small Group

7) 17:30 - 18:15 UKT / 18:30 - 19:15 CET / 12:30 - 13:15 ET – 1x1s or Small Group

VEON acting via VEON MidCo B.V. has also announced an invitation to holders of its outstanding US$ 1,013,973,000 3.375 per cent. Notes due 2027 to tender such Notes for cash, up to a maximum aggregate purchase price of US$750,000,000 with the Early Tender Deadline scheduled on June 1st, 2026. Full terms can be found in the tender offer memorandum dated May 18th, 2026 (the “Tender Offer Memorandum”). Barclays and Citi are acting as Dealer Managers on the Tender Offer.