Kyivstar Provides Update on Cyber-Attack Recovery; Reports Partial Restoration of Connectivity on its Fixed Network

Amsterdam, 12 December 2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, notes the following updates from its Ukrainian subsidiary Kyivstar regarding the recovery efforts following this morning’s cyber-attack:

"On December 12, 2023, Kyivstar's network suffered one of the largest cyber-attacks in the history of the global telecom market, which prevented the operator's subscribers from using communication services. 

The company's technical teams immediately began the work to restore services; and as of 20.00 Kyiv time on 12 December 2023, they have partially restored the operation of fixed-line services.  Currently, the Kyivstar technical teams are working on restoring all services, with the intention of and the best effort towards achieving recovery starting 13 December 2023. The restoration of services may be gradual, and Kyivstar will inform the public and its customers as the restoration progresses.  

The Kyivstar team works in close cooperation with Ukrainian law enforcement agencies, government services, and the Security Service of Ukraine, and would like to thank them for their immediate response and assistance in resolving this unprecedented situation.  The Kyivstar team also expresses its gratitude to all customers, corporate clients, partners and industry colleagues for their understanding and support.”

 VEON continues to fully support Kyivstar, and reiterates the Group’s and Kyivstar’s commitment to keeping Ukraine connected and to addressing the consequences of this morning’s cyber-attack.
As announced earlier today, VEON and Kyivstar are also conducting a thorough investigation to determine the full extent and impact of the incident, and to implement additional security measures to prevent any recurrence.  The exact magnitude of the financial impact is not yet quantifiable as it will depend on how long services are impacted.

VEON and Kyivstar will continue to inform their stakeholders and customers about further developments.

About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers.  Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.  Headquartered in Amsterdam, VEON is listed on Nasdaq and Euronext.
For more information visit: https://www.veon.com.

Disclaimer 
This release contains "forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s efforts to address the consequences of a cyberattack. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. 

Contact Information:

VEON 
Hande Asik
Group Director of Communication 
pr@veon.com

TUVA Partners
Julian Tanner
Julian.tanner@tuvapartners.com