MSCI upgrades VEON to 'AA' ESG Rating

March 04, 2024 at 13:00 PM EST

Amsterdam, 4 March 2024: VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that, MSCI has raised the Company’s Environmental, Social, and Governance (ESG) rating to 'AA' from 'A'.

This upgrade positions VEON within the ‘Leaders’ category amongst the 131 telecommunication services companies evaluated by MSCI, demonstrating our commitment to sustainable and ethical business operations.

“Our 'AA' rating from MSCI demonstrates VEON’s success in integrating and implementing a strategy aimed at making a positive societal impact, ensuring ethical governance and contributing to environmental stewardship. This upgrade and our position in the ‘Leaders’ category for our industry reflects VEON's persistent efforts to incorporate sustainable and responsible ESG practices across our operations, raising the bar consistently and with dedication.

“I am particularly pleased to see that VEON has scored above the industry average for labour management, with MSCI noting our focus on employee engagement and satisfaction. The ESG rating agency also named VEON’s exit from Russia as a factor contributing to the rating upgrade. MSCI also noted VEON’s good practices in end user data management, noting that our data security framework is on par with industry peers and features certification to widely recognized data security standards.

“Finally, corporate governance is another area where VEON excelled in comparison to our peers, according to MSCI, with a majority independent Board of Directors. This Board makeup reflects not only globally accepted good practices, but also the fact that VEON has no controlling or majority shareholder,” said Kaan Terzioglu, VEON Group CEO.

VEON’s focus on “4G for all” and digital services resulted in significant improvements in digital and financial inclusion in the 6 markets where our Group companies operate: Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan. Our digital operators amplify their positive social and environmental impact, prioritizing inclusive workplace practices and broader initiatives that drive diversity and inclusion, as well as supporting environmental sustainability. VEON remains committed to maintaining high standards in ethical and transparent of governance, serving a broad group of stakeholders.

For further details on VEON and our ESG practices, please visit our website at https://www.veon.com/we-are-veon/sustainability.

About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. For more information visit: www.veon.com

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, VEON’s strategy and sustainability initiatives. 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 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.

Contact
VEON
Hande Asik
Group Director of Communications
pr@veon.com

Faisal Ghori
Group Director of Investor Relations
ir@veon.com