3Q22 Results and Portfolio Strategy

SUMMARY ORGANIZATION CHART Mobile network operator Indirect ownership1 Direct ownership1 75.0% 50.1% VEON Ltd. (Bermuda) Listed entity VEON Amsterdam B.V. (NL) ■ USD 1,055m RCF VEON Holdings B.V. (NL) ☐ USD 4,012m notes KaR-Tel LLP2 (Kazakhstan) PJSC VimpelCom (Russia) Sky Mobile LLC (Kyrgyzstan) Unitel LLC (Uzbekistan) USD 1,576m gross debt 49% TNS-Plus Limited Liability Partnership (Kazakhstan) ■ RUB 50bn (USD 871m) notes JSC Kyivstar (Ukraine) Pakistan Mobile Communications (Pakistan) Banglalink Digital Communications (Bangladesh) USD 59m gross debt USD 660m gross debt USD 129m gross debt VEON Note: 1. 2. Gross external debt outstanding as of 30-Sep-22 pro forma adjusted for remaining USD 82m funding received under the RCF in November, following which the RCF is currently fully drawn; excludes IFRS-16 lease liabilities; local currency debt converted at exchange rate as of 30-Sep-22 (57 RUB/USD for RUB-denominated debt); overview does not breakout small amount of debt outstanding (<USD 20m in aggregate) at other entities 100% (direct and indirect) ownership unless indicated otherwise In December 2022, the Group's 75% interest in KaR-Tel LLP was transferred from a subsidiary of PJSC VimpelCom to VEON Holdings B.V., with corresponding set-off of the sale proceeds against the relevant i/c loan balances between Veon Holdings B.V. and PJSC VimpelCom to be completed 37

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