Dubai and New York, March 27, 2026 — VEON Ltd. (NASDAQ:VEON, "VEON" or the "Company")), a global digital operator, today provided an update underscoring the strong alignment between its management and shareholders, reflected in meaningful share ownership and disciplined capital allocation.

As of the date of this release, members of VEON's management collectively hold 1.84% of the Company's total share capital in the form of American Depositary Shares (ADSs). This level of ownership reflects a clear and tangible alignment with shareholder interests and reinforces management's commitment to long-term value creation. As part of its commitment to transparency and governance, VEON discloses that its Chief Executive Officer, Kaan Terzioglu, now holds slightly more than 1% of the Company's total share capital, exceeding the relevant disclosure threshold for insider ownership as was reported earlier in the Company's 2025 Form 20-F.

VEON's capital allocation framework also reflects the commitment to shareholder value creation. The Company is progressing with its previously announced USD 100 million buyback program of VEON ADSs and/or outstanding bonds, commenced on November 14, 2025. As of March 26, 2026, VEON has repurchased 745,420 ADSs for a total consideration of USD 39.0 million and USD 3 million of the 2027 Notes. Including the earlier buybacks first announced in August 2024, VEON has repurchased a total of 2.89 million ADSs for an aggregate consideration of USD 139.0 million.

In addition, VEON recently introduced a capital allocation policy targeting the return of at least USD 100 million to shareholders annually through share buybacks, further reinforcing its commitment to delivering consistent and measurable shareholder returns.

"VEON's strategy is firmly anchored in delivering long-term value for shareholders. The alignment between management ownership and our capital allocation policy reflects our confidence in the Company's direction and our focus on sustainable growth," said Kaan Terzioglu, Chief Executive Officer of VEON.

This alignment is further supported by VEON's continued execution of its digital operator strategy, serving over 150 million connectivity customers and more than 205 million quarterly digital users across five frontier markets. The Company remains focused on driving sustainable growth across its consumer and enterprise service lines, with a disciplined approach to capital deployment.

Through a combination of aligned incentives, disciplined capital returns, and continued execution of its digital operator strategy, VEON generates value for its shareholders while supporting the growth ambitions of its customers, markets, and partners.

About VEON

VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity and more than 205 million digital users. Operating across five countries that are home to more than 6% 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. For more information, visit: https://www.veon.com.

Forward-Looking Statements Disclaimer

This release contains "forward-looking statements", within the meaning of the 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. Such forward-looking statements include, but are not limited to, statements relating to VEON's strategic ambitions and the share ownership of its management team. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to VEON's strategic ambitions and the share ownership of its management team, among others discussed in the section entitled "Risk Factors" in VEON's 2025 Form 20-F filed with the SEC on March 16, 2026 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

Contact Information

VEON Communications

pr@veon.com

VEON Reinforces Alignment with Shareholder Value Creation