3Q22 Results and Portfolio Strategy

RCF AND NOTE MATURITY PROFILE PRE & POST EXTENSION 2023 Notes extended by 8 months with no changes to other maturities CURRENT MATURITY PROFILE (In USDM) Total debt: USD 5.9bn Weighted Average Life: 2.5 Years (In USDM) PRO FORMA MATURITY PROFILE Total debt: USD 5.9bn Weighted Average Life: 2.6 Years 1,000 1,000 VEON 500 500 700 1,250 533 805 Subject to a put in H1 2023 700 1,250 533 805 529 529 250 333 250 333 H1 2023F H2 2023F 2024F 2025F 2026F 2027F H1 2023F H2 2023F 2024F 2025F 2026F 2027F RCF1 RUB Notes² USD Notes RCF1 RUB Notes² USD Notes We estimate that c.60% of the 2023 Notes and c.50% of all Notes maturing through 2027 are held via the NSD³ HQ Net Debt 1234 1. 2. 3. 4. CURRENT USD 3.3bn Pro forma adjusted for remaining USD 82m funding received under the RCF in November, following which the RCF is currently fully drawn RUB Notes converted at 60 RUB/USD Estimate based on custodian data from Kroll PRO FORMA FOR VIMPELCOM DISPOSAL4 USD 1.1bn RUB 130bn Vimpel Com Disposal consideration converted at illustrative exchange rate of 60.5043 RUB/USD (Central Bank of Russia FX rate as of 24 November 2022) 33

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