VEON Publishes FY2022 Integrated Annual Report

Highlights Strong Environmental, Social, and Governance Performance

Amsterdam, 10 July 2023: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today published its 2022 Integrated Annual Report (IAR), showcasing not only strong financial and business performance but also emphasizing significant Environmental, Social, and Governance impact, underscoring the company's commitment to diversity and inclusion across its markets.

VEON's financial results in 2022 demonstrate the success of its Digital Operator 1440 strategy and its dedicated focus on '4G for all.' Revenues reached USD 3.75 billion, with an EBITDA of USD 1.74 billion and cash and cash equivalent reserves amounting to USD 3.1 billion. Concurrently, the number of 4G users surged to 85 million, constituting 54% of VEON's mobile customer base, reflecting the increased adoption of empowering and value-driven digital products.

"Our 2022 Integrated Annual Report provides a comprehensive account of our Digital Operator strategy, which not only drives our financial performance but also generates a positive impact on the societies we serve. Through our technology and digital products in finance, entertainment, education, and healthcare, we are honoured to empower customers and communities in some of the world's most dynamic emerging markets, enabling profitable growth for all stakeholders,” states Kaan Terzioglu, CEO of VEON Group.

Throughout 2022, VEON remained committed to the ESG principles and prioritized connectivity as a vital service, ensuring network continuity as a lifeline during the conflict in Ukraine and actively contributing to the restoration and rebuilding of communities affected by natural disasters in Pakistan and Bangladesh.

VEON achieved notable milestones in reducing its environmental footprint. Year-on-year, the Group successfully reduced CO2 emissions by 17% to 0.7 megatons. Additionally, power-saving technologies on the network were implemented, leading to reduced energy consumption in VEON offices by 10%.

VEON increased its positive social impact by appointing its first Group Diversity and Inclusion Officer in 2022, adopting and enhancing workplace diversity policies across all operating companies. VEON companies focused on delivering products and solutions that facilitate inclusion and committed to promoting higher digital and financial inclusion in their customer base.  Moreover, the Group's operating companies actively supported community projects fostering inclusive entrepreneurship, employment, and training particularly in ICT-related areas, providing free or subsidized internet connections to 1,923 educational institutions in 2022.

Through a challenging year, VEON maintained its strong focus on ethics and compliance, its robust risk management practices and its high standards of corporate governance.

For detailed insights into VEON Group's performance in 2022, please visit VEON's 2022 Integrated Annual Report on the company's website: https://www.veon.com/investors. The report is customizable, allowing readers to generate personalized reports based on their specific interests and preferences.

About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to over 160 million customers in six dynamic markets. We are transforming people’s lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 7% of the world’s population. Headquartered in Amsterdam, VEON is listed on Nasdaq and Euronext Amsterdam.

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, the Group’s financial and ESG performance.  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

Senior Communications Manager
Anna Ivanova-Galitsina
pr@veon.com

• TUVA Partners

Managing Partner
Julian Tanner
Julian.tanner@tuvapartners.com