06 August 2015

VimpelCom accounces strategy update and reports continued operational improvements in 2Q15

KEY RESULTS AND DEVELOPMENTS IN 2Q15

  • Strategy to generate sustainable annualized cash flow improvement of USD 750 million by year three
  • Organic1 results in line with management expectations
  • On track to deliver on 2015 annual targets; Capex/revenue target improved to 18-20%
  • Reported revenue and EBITDA2 impacted by currency headwinds, down 26% YoY and 27% YoY respectively
  • Revenue and EBITDA organically decreased 2% YoY and 3% YoY respectively
  • Strengthening of the management team to deliver on the strategy

Amsterdam (August 6, 2015) – Netherlands based VimpelCom Ltd. (“VimpelCom”, “Company” or “Group”) (NASDAQ: VIP), a leading global provider of telecommunications services, today announces financial and operating results for the quarter ended June 30, 2015.

Jean-Yves Charlier, Chief Executive Officer, comments:

“VimpelCom closed 2Q15 with an improving set of financial results which put the company on track to meet the 2015 targets.  At the same time, whilst reaffirming guidance for the year, we improved our Capex to revenue guidance as result of our focus on increasing free cash flow without impacting network quality, and service. Today also marks a very important milestone in the development of VimpelCom. In addition to our Q2 results, we provided an update on the company’s new strategy framework with an objective to deliver USD 750 million cash flow increase on an annual basis by year three.”

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