Investor Presentaiton

O VimpelCom Ltd 2015 Attractive Algerian telecom market - Djezzy is market leader Population¹: 39.5 million GDP/capita PPP² USD 7,500 Mobile penetration4: 96% ⚫ GDP growth of ~3% Macro environment • Government and industrial sectors account for over 60% of GDP • 37% of the population is under 20 years old Market shares³ 23% Djezzy 50% Mobilis Ooredoo 27% • Competitive landscape Djezzy: high brand perception with solid market leadership with high control over distribution • Mobilis: incumbent operator supported by the government; expected to be listed in Algiers • Ooredoo: Through an earlier deployment of their 3G network and a commercial policy often at the limit of the ARPT rules, they have taken lead in the high end segment 1 ONS (office national des statistiques) 2 CIA Factbook 2014 4 Penetration figures are provided based on OTA closing base and our data warehouse (DWH) figures for competitors 3 Customer market share as at December 2014 4 Global Telecom VimpelCom Holding Focusing Locally Empowering People Connecting Globally

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