3Q22 Results and Portfolio Strategy

• PORTFOLIO STRATEGY Focus on crystallising infrastructure value and digital operator model GROUP CAPITAL ALLOCATION PRIORITIES • Monetise assets to enhance HQ liquidity and deleveraging Unlock infrastructure value through tower transactions • VEON Continue to invest into connectivity, digital opportunities, and support portfolio investments to drive growth in core countries Establish VEON as a digital operator focusing on Emerging Markets Continue to simplify portfolio and ownership structures to focus on operations with critical size or opportunity, which already resulted in successful sale of Algeria and Georgia SPECIFIC ACTION PLANS BY COUNTRY . • Russia: Completion of the VimpelCom Disposal in compliance with applicable sanctions laws and regulations Ukraine: Ensure people remain connected by keeping the network operational and re-invest cash generated locally to create value Pakistan & Kazakhstan: Consolidate market leadership positions and unlock infrastructure value while pioneering digital services Bangladesh: Unlock infrastructure value and free up capital for country-wide investment • Uzbekistan: Capitalize on growth opportunities · Kyrgyzstan: Continue to develop business while exploring strategic options 21

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