Investor Presentaiton

Ukraine: Mobile Market Performance MARKET SHARE Subscriber* FINANCIALS - lifecell Mobile Revenue Growth (in UAH) 37.0% 13.9% (*) 3 month active subscribers Mobile Revenue 30.6% 15.5% Source: Company announcements (Q4 2019) VDF - Kyivstar Investor Presentation (YoY) 30% 20% 24% 18% 19% -21% 16% 16% KYIVSTAR 17% 16% 49.1% VDF 12% 10% 12% lifecell -11% Q119 Q219 Q319 Q419 Q120 EBITDA Margin (%) 69.5% 67.9% 65.0% KYIVSTAR 62.9% 64.8% VDF 53.9% 57.6%- 53.9% 53.0% 52.6% 50.5% lifecell 52.8% 54.6% 51.7% 49.1% Q119 Q219 Q319 Q419 Q120 65 55

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