VEON Group Announces Share Awards for Members of Board and Management Team

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VEON announces share awards to its Board and management team

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• VEON announces share awards to its Board and management team in recognition of their commitment and support during a challenging year.

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Amsterdam, 25 July 2023, 10:00 CET: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces share awards to its members of the Board and management team.

The share awards for the management team is the second tranche of  VEON’s Deferred Share Plan, which was detailed in our press release dated 18^th July 2022, or as a result of a discretionary grant.

For the Board members, the share grant comes in recognition of their extraordinary commitment, professionalism and sound judgement as they steered VEON, supporting the execution of Group’s priorities and digital operator strategy during an exceptionally challenging year.

Share grants:

Name	ADSs granted*	ADSs transferred**
Morten Lundal	10,000	10,000
Augie Fabela	10,000	10,000
Michiel Soeting	10,000	10,000
Kaan Terzioglu	30,996	20,255
Joop Brakenhoff	3,703	1,870
Omiyinka Doris	10,444	5,282
Michael Schulz	5,829	3,809
TOTAL:	80,972	57,752

* Each ADS represents 25 underlying common shares.

**The number transferred may be lower where the recipient has elected to have shares withheld to cover tax obligations.

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 share awards and strategy.  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
Investor Relations
Nik Kershaw
ir@veon.com

FAQ

What is the purpose of the share awards?

The share awards are in recognition of the commitment and support of the Board and management team during a challenging year.

Who will receive the share grants?

The share grants will be received by the members of the Board and management team.

How many ADSs were granted?

A total of 80,972 ADSs were granted.

What is the value of each ADS?

Each ADS represents 25 underlying common shares.