Noteholder update in relation to Veon Holdings B.V.

U.S.$1,000,000,000 4.00% SENIOR NOTES DUE 9 APRIL 2025
U.S.$1,250,000,000 3.375% SENIOR UNSECURED NOTES DUE 25 NOVEMBER 2027
(TOGETHER, THE "USD NOTES")

RUB20,000,000,000 6.30% SENIOR UNSECURED NOTES DUE 18 JUNE 2025
RUB10,000,000,000 6.50% SENIOR UNSECURED NOTES DUE 11 SEPTEMBER 2025
RUB20,000,000,000 8.125% SENIOR UNSECURED NOTES DUE 16 SEPTEMBER 2026 
(TOGETHER, THE "ROUBLE NOTES")

(THE USD NOTES AND THE ROUBLE NOTES, TOGETHER THE "NOTES")

EACH ISSUED BY VEON HOLDINGS B.V. (THE "COMPANY")

LONDON, April 29, 2024 /PRNewswire/ -- Cleary Gottlieb Steen & Hamilton LLP has been engaged by certain holders of the Rouble Notes (the "Group").

On 18 April 2024, the Company launched a consent solicitation in relation to the Notes (the "Consent Solicitation"). 

The Group is willing, in principle, to support the Consent Solicitation provided that certain amendments are made to its terms including, in particular, providing that the new notes issued in exchange for the Rouble Notes under the Consent Solicitation are denominated in US dollars.

The Group is ready and willing to discuss their proposed amendments to the terms of the Consent Solicitation with the Company.

Holders of the Rouble Notes are invited to contact Solomon J. Noh or Alastair Goldrein at Cleary Gottlieb Steen & Hamilton LLP for organisation purposes.

The contact details for Messrs. Noh and Goldrein appear below:

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SOURCE Veon Holdings B.V.