VEON Ltd. Ownership Structure*
|Shareholder||Common shares||% of common and
|Free Float(1)||613 454 732||34.90%|
|Telenor (2)||156 703 840||8.90%|
|LetterOne (3)||840 625 001||47.9%|
|The Stichting (4)||145 947 562||8.3%|
|Total||1 756 731 135||100%|
Certain figures and percentages that appear in this table have been subject to rounding adjustments. As a result, certain numerical figures shown as totals may not be exact arithmetic aggregations of the figures that precede or follow them.
(1) Free float shares include treasury shares, for more information please refer to Form 20-F.
(2) As reported on Schedule 13D, Amendment No. 42, filed on March 29, 2019, by Telenor East Holdings II AS, Telenor Mobile Holding AS and Telenor ASA (collectively, “Telenor”) with the SEC, Telenor is the direct beneficial owner of 156,703,840 common shares.
(3) As reported on Schedule 13D, Amendment No. 19, filed on April 1, 2016, by L1T VIP Holdings S.à r.l. and Letterone Investment Holdings S.A. with the SEC, L1T VIP Holdings S.à r.l. is the direct beneficial owner of 840,625,001 common shares. Letterone Investment Holdings S.A. (“LetterOne”) is the sole shareholder of L1T VIP Holdings S.à r.l. and, in such capacity, may be deemed to be the beneficial owner of the common shares held for the account of L1T VIP Holdings S.à r.l. LetterOne is a Luxembourg company, with its principal business to function as a holding company.
(4) As reported on Schedule 13G, filed on April 1, 2016, by Stichting Administratiekantoor Mobile Telecommunications Investor (the “Stichting”) with the SEC, the Stichting is the direct beneficial owner of 145,947,562 common shares. As the holder of depositary receipts issued by the Stichting, L1T VIP Holdings S.à r.l. is entitled to the economic benefits (dividend payments, other distributions and sale proceeds) of such common shares. The Stichting is a foundation incorporated under the laws of the Netherlands.