VEON's Banglalink Receives Regulatory Approval to Launch Digital Payment Services to Advance Financial Inclusion in Bangladesh

Dubai and Dhaka, December 11, 2025 - VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), today announces that Banglalink, its digital operator in Bangladesh, has received the permission of Bangladesh Bank to operate as a payment service provider - a milestone in the operator’s ambition to expand further into digital financial services.

As a payment services provider, Banglalink will be able to offer regulated money transfer and payment services for customers, expanding access to formal financial tools. With a significant share of Bangladesh’s population still outside the traditional banking system —estimated at 72% in 2023 according to the Bangladesh Bureau of Statistics¹— these services represent a significant opportunity to accelerate financial inclusion at national scale.

Banglalink is now proceeding with operational and technical preparations for the commercial rollout, working closely with Bangladesh Bank and partner institutions. The offering will be designed to integrate everyday financial services seamlessly into customers’ mobile experience, reducing friction and lowering barriers to access.

At launch, Banglalink’s digital payment services will include instant person-to-person transfers, remittance services, utility and government bill payments, merchant and e-commerce transactions, and salary and disbursement services. In later stages, it will support emerging financial use cases such as micro-savings and insurance premium payments. Banglalink’s payments platform will incorporate a strong security framework intended to support safe, timely and dependable transactions.

“Digital financial services are a key pillar of our DO1440 strategy that is empowering our customers with relevant digital services for every minute of the day,” said Kaan Terzioglu, CEO of VEON Group. “The green light for Banglalink to launch payment services will enable us to bring financial services directly to customers’ fingertips while helping accelerate Bangladesh’s growth as a digital economy.”

“With Banglalink’s nationwide reach and VEON’s global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh,” said Johan Buse, Chief Executive Officer of Banglalink. “This approval reinforces our belief that simple, safe and accessible digital financial services should be available to everyone. Banglalink will continue driving meaningful digital innovation that supports everyday life, empowers communities and accelerates Bangladesh’s journey toward a connected and future-ready digital economy.”

The expansion into digital payments builds on VEON’s established experience in digital financial services across other operating markets. As of September 30, 2025, VEON’s digital financial services reported 42.1 million monthly active users, representing 25% year-on-year growth. The launch in Bangladesh extends this expertise into one of South Asia’s largest and fastest-growing digital economies

About Banglalink

Banglalink is one of the leading digital communications service providers in Bangladesh, working to unlock new opportunities for its customers as they navigate the digital world. Driven by the vision of transforming lives through technology, Banglalink also strives to transform into a future-ready service provider capable of catering to the demands of the new digital era. For more information, visit: www.banglalink.net.

About VEON 
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to 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 Disclaimer
This release contains “forward-looking statements”, within the meaning of the 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 VEON’s and its subsidiaries’ commercial roll-out and growth plans in digital services. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to uncertainty over VEON’s and its subsidiaries’ commercial roll-out and growth plans in digital services, among others discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025, and other public filings made by VEON with the SEC. 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.

Contact Information
VEON
Hande Asik
Chief Communications and Strategy Officer
[email protected]

¹ Bangladesh Bureau of Statistics 2023 survey: "Bangladesh Sample Vital Statistics"