VEON's JazzCash and Mobilink Bank Bring Government Treasury Bills to Smartphones, Democratising Investment for Millions of Pakistanis

Dubai, New York and Islamabad, June 16 2026 — VEON Ltd (Nasdaq: VEON), a global digital operator, today announced that its digital financial services companies JazzCash and Mobilink Bank have democratized investment opportunities in Pakistan by introducing Government Treasury Bills directly through the JazzCash app, starting from as little as PKR 5,000 (approx. USD 18). The initiative aims to reach one million active investors, working in coordination with the State Bank of Pakistan and the Ministry of Finance, Pakistan.

Government securities in Pakistan have traditionally been accessible only through banks and brokerages. Now, any eligible JazzCash customer with a verified account and an active Mobilink Bank deposit account can invest in 3-month Treasury Bills through a simple, secure journey built into an app they already use. JazzCash serves a registered customer base of 60 million and processed more than PKR 16.8 trillion in gross transaction value in the year to March 2026 (approx. USD 59.7 billion), making this one of the largest digitally enabled retail investment channels in any emerging market.

The launch comes as Pakistan's appetite for investment is growing. The Pakistan Stock Exchange reached 563,000 investors for the first time in May 2026, following strong recent Gen Z participation. Treasury Bills on JazzCash open that door to millions more, extending formal investment access well beyond the country's approximately 1.4 million existing public market participants across equities, mutual funds and commodities. 

The product was developed in collaboration with the Ministry of Finance and the State Bank of Pakistan, with Mobilink Bank acting as the regulated custodian and trustee. Plans to extend access to longer-maturity Treasury Bills are already underway.

"Digital financial services are helping Pakistan's economy expand and diversify, bringing more people into the formal financial system and unlocking new opportunities for them to thrive. By making investing in government treasury bills more accessible, we are giving people across Pakistan real tools to create, build and protect their wealth. We are proud to be partnering with the government on this initiative to help democratize investment access for millions of Pakistanis," said Kaan Terzioglu, CEO of VEON.

Muhammad Aurangzeb, Federal Minister for Finance and Revenue, said, “Under the Prime Minister’s vision for an inclusive digital economy, the Government is working to deepen Pakistan’s financial markets, mobilize domestic savings and expand citizens’ participation in the formal economy. A stronger economy requires more Pakistanis to have access to regulated financial assets beyond conventional savings products. By enabling investment in Government securities, starting with Treasury Bills (T-Bills) through a trusted digital platform such as JazzCash, this initiative translates that broader vision into practical access for citizens while helping build a wider and more diversified domestic investor base.”

"Inclusion cannot stop at payments. It must also give people access to tools that help them save, invest and build financial resilience. With T-Bills on the JazzCash app, we are bringing a secure, government-backed investment product into an everyday digital wallet, allowing customers to participate in formal financial markets through a journey that is simple, and intuitive," added Murtaza Ali, CEO, JazzCash.

The launch was held at JazzCash headquarters in Islamabad today. Kaan Terzioglu, CEO of VEON, joined virtually, alongside Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue; Khurram Schehzad, Adviser to the Finance Minister; Omer M. Khan, Adviser on Debt Management, Finance Division; Muhammad Khaliq Zaman, Director Domestic Debt Management, Finance Division; Aamir Ibrahim, Chairman of JazzCash and Mobilink Bank; Murtaza Ali, CEO of JazzCash; and Haaris Mahmood Chaudhary, CEO of Mobilink Bank. 

About VEON
VEON is a digital operator that provides connectivity to over 150 million customers and digital services to more than 205 million 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.

About JazzCash
JazzCash is Pakistan’s leading digital financial services platform, operating under a Branchless Banking charter and offering mobile wallet services in collaboration with Mobilink Microfinance Bank. It serves over 60 million customers across Pakistan, providing a broad portfolio of services including payments, lending, insurance, welfare disbursements, and government-to-person payments and government-backed investment products. For more information, please visit: www.jazzcash.com.pk

About Mobilink Microfinance Bank
Mobilink Microfinance Bank is Pakistan’s leading digital microfinance institution, committed to promoting financial inclusion through digital and branch-based banking services. The bank has been recognized for its institutional and digital capabilities, including being named Best Microfinance Bank at the Pakistan Banking Awards 2024 and winning the Best Digital Banking Services Award (Microfinance category) at the CFA Society Pakistan Annual Excellence Awards for three consecutive years. The Bank operates with a network of 114 branches. For more information, please visit: https://mobilinkbank.com/ 

Forward-Looking Statements
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, including in relation to our strategy and product offerings.

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