VEON Ltd. Bond Offering

VEON Ltd., through its subsidiary VEON Midco B.V., has successfully priced a USD 1.4 billion bond offering. The offering consists of two tranches: USD 700 million in 6.95% Senior Notes due 2031 and USD 700 million in 7.45% Senior Notes due 2033. These notes are guaranteed by VEON Amsterdam B.V. The proceeds from this offering will be used to refinance existing indebtedness, including the purchase of up to USD 750 million of its outstanding 3.375% Senior Notes due 2027. This bond offering is a significant step in optimizing VEON's balance sheet and demonstrates its continued access to international capital markets. The notes are expected to have a credit rating of BB- from S&P and Fitch and will rank equally with the Issuer's existing debt. Application will be made to list the notes on the Euro MTF market of the Luxembourg Stock Exchange.