VEON Ltd. Announces Increased Share Buyback Program

VEON Ltd. has announced a new program to repurchase 3.9% of its outstanding shares, equivalent to 72.5 million shares or ADSs, for approximately USD 200 million. This initiative includes open market repurchases and a proportionate share sale from shareholder LetterOne. All repurchased shares will be canceled, underscoring VEON's commitment to capital allocation and shareholder value. This new program enhances the previously announced USD 100 million annual buyback target and is in addition to a completed USD 100 million program. The company has already repurchased 4.46 million ADSs (6.0% of total ADSs) for USD 227.6 million since August 2024. VEON, a global digital operator serving over 150 million connectivity and 228 million digital customers across five countries, aims to grow cash flow and translate operating performance into greater value per share.