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Investor Presentation May 2014

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Investor Presentation May 2014 Creating Value 2014 Investing in the future Investor Presentation May 2014 VimpelCom Ltd VimpelCom © www.vimpelcom.com iPad App 1 International telecoms operator with attractive emerging markets exposure Mobile Population customers covered 218 754 million** million*** No 7 Mobile operator in the world* Countries Number 2014 17 of brands 9 VimpelCom Ltd VimpelCom © USD 5.0 billion** Russia USD 2.1 billion** Africa & Asia Total operating 38% 17% 7% 7% 31% Ukraine EBITDA 36% 19% 8% 9% 28% revenue CIS & Other 69% from Emerging markets Italy 72% from Emerging markets * Based on mobile customers 2 ** The 1Q14 for numbers of mobile customers, Revenue and EBITDA *** Population figures are provided by CIA – The World Factbook © VimpelCom Ltd 2014 3 Strategic value agendato value create value Strategic Strong EBITDA margin versus our global peers EBITDA Margin (FY13)1 2014 VimpelCom Ltd VimpelCom © VIP WE Telcos with CIS / Emerging Market Others2 CEE Exposure 1 VIP EBITDA Margin, excluding write=off related to favorable Algeria resolution and write-off of fixed assets to operating expenses in Uzbekistan 4 2 Others include a sample of more than 80 listed telecom operators in Developed, Emerging and Mixed Markets Dividend policy to support deleverage and investments ► More long-term value in deleveraging and investing in high quality, 3G and 4G networks to capture high mobile data growth 2014 ► Future dividends of 3.5 US cents per share per annum until targeted leverage of less than 2.0 net debt / EBITDA achieved VimpelCom Ltd VimpelCom © 5 Future growth drivers ► Customer growth from increase in mobile penetration ► Mobile data revenue growth; investing in high quality networks, 3G and 4G/LTE 2014 ► Continued emerging markets growth ► General economic recovery, particularly in Italy VimpelCom Ltd VimpelCom ► Global partnership agreements in the new eco system © Well positioned to convert these drivers into value creation 6 VimpelCom has an attractive emerging markets portfolio 69% of revenues in emerging markets Emerging market portfolio ► Solid market positions FY 13 ► Strong cash flow generation 2014 ► Revenues USD 15.9 bn Low leverage 1 EBITDA USD 6.9 bn CAPEX VimpelCom Ltd VimpelCom USD 3.1 bn © Cash Flow1 USD 3.9 bn Leverage2 1.2 1 Excluding one-off charges related to the Algeria resolution; Cash Flow = EBITDA - CAPEX 2 Net Debt / LTM FY13 EBITDA Note: Our Emerging Markets portfolio = BU’s Russia, Africa & Asia, Ukraine and CIS 7 Emerging markets progress Russia ► Substantially improved mobile data network: at par in key regions ► Tripled number of owned mono-brand stores ► Launched LTE in Moscow Oblast and six regions 2014 ► Completed Phase 1 of the transformation process ► New management to implement Phase 2 of the transformation with focus on VimpelCom Ltd VimpelCom Customer Excellence © ► Several actions taken in Phase 2 to improve Customer Excellence Reached network parity in key regions 8 Russia 1Q14: Pressure on results while investing in the network RUB BILLION, UNLESS STATED OTHERWISE Service revenue Mobile customers (million) -2% YoY -1% YoY • Mobile data revenue grew 22% YoY 65.8 68.7 64.6 55.7 55.0 • Service revenue decreased 2% YoY, 11.8 12.4 12.2 mainly affected by measures taken to reduce unrequested mobile services 56.3 54.0 52.4 from content providers 2014 1Q13 4Q13 1Q14 1Q13 1Q14 • Fixed-line service revenue increased 3% YoY due to the growth in FTTB and voice . Mobile . Fixed-line . Mobile revenue VimpelCom Ltd VimpelCom © EBITDA and CAPEX and • EBITDA margin decreased 1.7 pp due EBITDA margin CAPEX/revenue to lower revenue and investments in -9% YoY +71% YoY network and owned monobrand stores 11.5 29.3 28.5 26.5 • CAPEX increased due to investments 6.7 in 3G and 4G/LTE networks 41.8% 40.3% 40.1% 17% 10% • Pressure on results expected to continue for remainder of 2014 1Q13 4Q13 1Q14 1Q13 1Q14 . Total . Total 9 Transformation Phase 2 in Russia: Continued investments in high speed data network 2014 4G/LTE launched in 8 cities Continued roll out of Improved network VimpelCom Ltd VimpelCom Including Moscow Oblast, © 3G and 4G/LTE performance St. Petersburg and Leningradskaya Oblast • + 40% in 3G base stations YoY • 4G/LTE launched in 20 regions by end of • Beeline #1 in 40% of the cities for data speed1 • + 64% in 4G/LTE base stations QoQ summer 2014 • Moscow: #1 in voice quality, #2 in data • Only operator offering 4G/LTE in dual • 91% of 3G base stations connected via speed1 IP vs 86% in 4Q13 band in Moscow (800MHz and 2600MHz) • Avg. download speed Moscow and Moscow Oblast of 3.4 Mb/s1 • Avg. download speed Russia of 2.7 Mb/s1 10 1. Company estimates Transformation Phase 2 in Russia: Enhanced customer experience with new content and spam policy 2014 Transparency of content VimpelCom Ltd VimpelCom Filter SMS spam subscription costs and Free anti virus protection © no undesired subscription for Android • Filtering external SMS traffic, with spam • Clear SMS notification of price of content • Free antivirus for Beeline customers: detection methods beforehand ► Free virus database updates • Administrative sanctions to spammers • Monthly reminder of content subscription ► Free traffic for database update • Average spam SMS per customer • Content subscription is limited to 90 days ► Dedicated support line for Beeline substantially reduced from 12 in October • Measures taken to improve service customers 2013 to 3 in March 2014; aim to reduce quality from content providers ► Beeline branded interface further • Cleaning up revenue base 11 Transformation Phase 2 in Russia: Improved customer value proposition 300 600 2014 1200 2700 VimpelCom Ltd VimpelCom Beeline smartphone New range of © RUB 490 bundles and Brand proposition (< USD 15) new roaming tariffs • Most affordable smartphone in the • Simplified tariff plans • Launched TV campaign to communicate market • Unlimited on-net included new value proposition • In combination with newly launched • Larger mobile data packages included bundled tariff plans • Lowered roaming tariffs 12 Transformation Phase 2 in Russia: Improving customer service 2014 VimpelCom Ltd VimpelCom © “My Beeline” account Self service Reduced waiting time details in one click upgrade (app) in service centers • User friendly online cost overview: • App for Android and iOS: • 16% reduction average waiting time ► Costs details visualized in clear ► Account balance info and cost details • 17% reduction inbound calls charts ► Account top-up • Option for call back from service center ► Tariff plan management introduced and 17% utilize this option ► Advice, personalized offers and • Improved NPS promotions • 1.1 mln downloads since launch two months ago 13 Emerging markets progress Algeria Pakistan Bangladesh ► Solid performance and ► Stable market ► Strong growth market leadership position momentum ► 3G license awarded ► Network ► 3G launched ► Roll out of 3G modernization ► Good recovery in 2014 ► 3G to be launched in 2Q14 ► Rapid growth of MFS 1Q14 ► Favorable resolution with ► Robust performance Government reached in ► 2x10 MHz spectrum VimpelCom Ltd VimpelCom © April 2014 awarded ► 3G to be launched in 2Q14 Clear market leader in Algeria and Pakistan number 2 in Bangladesh 14 Africa & Asia1 1Q14: Good recovery in Bangladesh, solid performance in Pakistan, resolution in Algeria USD MILLION, UNLESS STATED OTHERWISE Service revenue Mobile customers (million) -2% YoY +8% YoY • Revenue and EBITDA organically 89.8 declined 1% YoY and 3% YoY 848 830 830 83.3 • Mobile customer growth supported by strong additions in Bangladesh 2014 • Reported results negatively affected 1Q13 4Q13 1Q14 1Q13 1Q14 by local currency depreciation, mainly in Pakistan VimpelCom Ltd VimpelCom © EBITDA and CAPEX and • CAPEX increase due to 3G roll-out EBITDA margin CAPEX/revenue in Algeria and Bangladesh and -3% YoY +377% YoY network modernization in Pakistan 412 403 399 143 47.7% 46.7% 47.1% 17% 30 3% 1Q13 4Q13 1Q14 1Q13 1Q14 15 1. This segment includes our operations in Algeria, Pakistan, Bangladesh, Sub-Saharan Africa and Laos Algeria plans post settlement • Closing of the transaction is expected by the end of 2014 • Agreement will facilitate the procurement procedures, the deployment of the 3G network and the revamping of the existing network • Agreement enables modernization of the existing network and fulfilment of 2014 coverage gaps • Djezzy maintained a high customer loyalty with the lowest churn in the market ► Continued focus on customer excellence VimpelCom Ltd VimpelCom © • Launch of 3G is expected in 2Q14 ► The roll-out of 3G is progressing according to plan ► Offer innovative customer focused solutions • Djezzy to benefit from the Group contracts for technology and services • National 3G coverage expected to be reached by end of 2015 16 Emerging markets progress Ukraine ► Pressure on results, whilst taking measures to improve performance ► Solid growth of mobile data revenues ► Ongoing network modernization 2014 ► Operational excellence program continues ► Transformation program launched, delivering first signs of improvement ► VimpelCom Ltd VimpelCom Solid cash flow generation © Clear market leader 17 Ukraine 1Q14: Transformation program on track, delivering first signs of improvements UAH BILLION, UNLESS STATED OTHERWISE Service revenue Mobile customers • Kyivstar’s operations in 1Q14 not (million) materially impacted despite -5% YoY -3% YoY challenging macro- economic and 3.1 3.1 3.0 26.3 25.6 political environment 0.3 0.3 0.3 • Fixed broadband customers 2.8 2.9 2.7 increased 19% YoY 2014 1Q13 4Q13 1Q14 1Q13 1Q14
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