Amsterdam (April 18, 2016) - VimpelCom Ltd. (NASDAQ: VIP) made the statement below following its recent preferred shares redemption:

As previously disclosed, Telenor did not give notice to VimpelCom of its intention to convert its 305,000,000 voting preferred shares. The preferred shares have been redeemed by VimpelCom at a redemption price of US$0.001 per share and are no longer outstanding. 

VimpelCom’s issued share capital now consists of 1,756,731,135 common shares held as follows:

 
Shareholder Common shares % of common and voting shares
Free Float 189,579,732 10.8%
Telenor(1) 580,578,840 33.0%
LetterOne(2) 840,625,001 47.9%
Stichting(3) 145,947,562 8.3%
Total 1,756,731,135 100%

* Certain amounts 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) As reported on Schedule 13D, Amendment No. 29, filed on October 5, 2015, by Telenor East Holdings II AS with the U.S. Securities and Exchange Commission (the “SEC”), Telenor East Holdings II AS is the direct beneficial owner of 580,578,840 common shares and 305,000,000 preferred shares. Pursuant to the terms of VimpelCom’s bye-laws, as of April 15, 2016, the 305,000,000 preferred shares held by Telenor have been redeemed by VimpelCom at a redemption price of US$0.001 per share and have ceased to be outstanding.

(2) As reported on Schedule 13D, Amendment No. 19, filed on April 1, 2016, by L1T VIP Holdings S.à r.l. 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.

(3) 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 (stichting) incorporated under the laws of the Netherlands.

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