VEON Advances Buyback Program, Cancels Shares

The completed cancellation advances a program to buy back and cancel 3.9% of outstanding shares.

Rhea-AI Summary

VEON (Nasdaq: VEON) confirmed the cancellation of approximately 1.5% of its total issued shares under its ongoing share buyback program.

The cancellation covers 26,951,230 common shares, equivalent to 1,078,049 ADSs. The program, announced on September 23, 2026, aims to buy back and cancel 3.9% of VEON’s outstanding shares.

2 points · 0 major

PositiveiHow this balance works

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0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point26,951,230 common shares cancelled, equivalent to 1,078,049 ADSs and approximately 1.5% of total issued shares.
• Minor point. Forward-looking: it has not happened yet and may not happen.Buyback program aims to buy back and cancel 3.9% of outstanding shares.

Negative

• None.

News Explained

By canceling 26,951,230 shares, about 1.5% of issued shares, VEON reduces the share-count base, so each remaining share represents a larger fraction of the company.

Key Figures

Shares cancelled: 26,951,230 common shares (1,078,049 ADSs) Program share target: 3.9% of outstanding shares

Shares cancelled

26,951,230 common shares (1,078,049 ADSs)

Cancellation under the ongoing buyback program

Program share target

3.9% of outstanding shares

Target of the ongoing buyback program

Previous Buybacks Reports

1 past event · Latest: Sep 23

Same Type 1 event

1. Sep 23

   Share buyback

   24h Move

   +1.4%

   Announced a 3.9% repurchase-and-cancellation program covering 72.5 million shares, with all acquired shares canceled.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

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1 terms

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"equivalent to 1,078,049 ADSs"

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New York and Dubai, October 20, 2026. VEON Ltd. (Nasdaq: VEON), a global digital operator, today confirmed the cancellation of approximately 1.5% of its total issued shares.

Today’s cancellation of 26,951,230 common shares (equivalent to 1,078,049 ADSs) is pursuant to VEON’s ongoing share buyback program announced on September 23, 2026 to buy back and cancel 3.9% of VEON’s outstanding shares.

About VEON
VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity and more than 228 million digital customers. Operating across five countries that are home to 550 million consumers, more than 6% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.

Forward-Looking Statements
This release contains “forward-looking statements”, within the meaning of 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. Such forward-looking statements include, but are not limited to, statements relating to the execution and/or impact of the buyback of the VEON Group’s ADSs and shares and the cancellation of such shares. There are numerous risks and uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to uncertainty over the execution and/or impact of the buyback of the VEON Group’s ADSs and shares, among others discussed in the section entitled “Risk Factors” in VEON’s 2025 Form 20-F filed with the SEC on March 16, 2026 and other public filings made by VEON with the SEC. There is no assurance that the buyback of VEON ADSs and shares and the cancellation of such shares will be completed or that other events described in any forward-looking statement will materialize. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did VEON cancel under its buyback program?

VEON cancelled 26,951,230 common shares, equivalent to 1,078,049 ADSs and approximately 1.5% of its total issued shares.

What is the size of VEON’s share buyback program?

VEON’s ongoing program aims to buy back and cancel 3.9% of its outstanding shares. The program was announced on September 23, 2026.