VEON reports revenue growth for 5M22 at AGM

Amsterdam, 29 June 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, will disclose key financial highlights for the first five months of 2022 ( 5M22 ) at the annual general meeting of shareholders (the AGM ) being held today.

VEON Group 5M22 consolidated revenue, is in positive territory, up by 1.3% in reported currency, and by 8.7% YoY in local currency terms, with six of our eight countries reporting double-digit local currency revenue growth for the period.

Group CEO Kaan Terzioglu commented: Our digital operator strategy is delivering solid results, enabled by growing 4G penetration. VEON Group's topline growth was an encouraging 8.7% YoY in local currency terms, driven by solid performance in our operations, despite the particularly challenging circumstances. Building on an expanding portfolio of services and with a constant focus on customer experience, our operations are growing their subscriber base, improving their user engagement, reducing churn, increasing their ARPU levels and gaining market share. I am proud of the work done by our teams, and would like to thank our Board and shareholders for their support.

The table below details the 5M22 revenue and EBITDA trends on a country-by-country basis:

* EBITDA normalised in Ukraine and Kazakhstan is related to employee support and the extraordinary charitable donations in 1Q22. Kyrgyzstan relates to a reversal of a tax accrual in 2Q21.

The full AGM presentation is available on the VEON Group website at https://www.veon.com/investors/equity-investors/agm/.

LINK:	https://www.veon.com/media/media-releases/2022/veon-reports-revenue-gr...
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