VEON : Beeline expands 4G coverage in Moscow increasing mobile internet speeds by up to 30%

Amsterdam, 22 January 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that Beeline, VEON's operations in Russia, has completed a large-scale project to improve the quality and availability of mobile internet in Moscow.

The project included the redistribution of the 2100 frequency range from 3G to 4G and an expansion in the frequency range used in the 4G network from 30 to 45 MHz. This has enabled an increase in the average speed of mobile internet by up to 30%, with peak speeds now reaching up to 350 Mbit/sec.

The project involved installing more than 2,300 new LTE-2100 base stations in Moscow, as well as 800 new 3G base stations in order to enhance data services and at the same time maintain high quality in voice communications. Mobile traffic on Beeline's 4G network in Moscow grew by more than 60% year-on-year in December 2020 as a consequence, bringing its share of the total volume of Beeline's mobile traffic to over 90%. Beeline's 4G users are also more active than before, with the average volume of 4G traffic per user increasing by 36% year-on-year in December.

In December 2020, VEON announced another milestone in Beeline's network development, as coverage of all Moscow metro stations with 4G was achieved.

Beeline is performing similar network enhancement projects across various Russian regions, including frequency redistribution, which will similarly support the increase in the average speed of mobile internet services.

Kaan Terzioglu, VEON's Co-CEO, said: 'Almost a year ago we promised to improve the customer experience on our 4G network in Russia with a special focus on Moscow, the benefits of which are clear in these important milestones. Today's successes follow a year of considerable achievement by the Beeline team, during which the pace of network deployment rose three-fold enabling more than 10,000 new base stations to be installed in Moscow. Serving our customers with continuous and dependable access to high-speed mobile data is a key goal of our network investment programme across Russia. We remain committed to expanding our 4G capabilities in the year ahead and to seizing the opportunities they provide for customer engagement and services adoption'.

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 benefits of our ongoing investments in 4G networks across Russia. 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.

About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com.

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  Nik Kershaw
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