OREANDA-NEWS. April 26, 2012. “VimpelCom Ltd” (“VimpelCom”, “Company” or “Group”) (NYSE: VIP),a leading global provider of telecommunications services, announced today that it has signed an agreement to sell the Company’s entire indirect 49% stake in GTEL Mobile Joint Stock Company (“GTEL Mobile”) in Vietnam and give up operational control of GTEL Mobile.

The stake will be sold to GTEL Transmit and Infrastructure Service One Member Company Limited (the “Purchaser”), a related party of the Company’s Vietnamese local partner, Global Telecommunications Corporation. Under the terms of the agreement, the Purchaser will pay cash consideration of USD 45 million upon satisfaction of usual conditions precedent. Upon completion of the sale, VimpelCom will have no further obligations or liabilities to Global Telecommunications Corporation or GTEL Mobile.

Additionally, GTEL Mobile will discontinue the use of the Beeline trademark after a six months transition period. As previously communicated, the Company impaired its investment in Vietnam in 4Q11, following a detailed business plan review. VimpelCom does not expect any additional losses related to the sale of the above-mentioned interest.

Jo Lunder, Chief Executive Officer of VimpelCom, commented: “We have previously outlined our Value Agenda, within which all of our operations are reviewed to assess their future value to the Group. The decision to dispose of our interest in GTEL Mobile is a result of this process, which focuses on allocating capital to those markets where we see the best opportunities to generate shareholder value.”

Disclaimer This announcement contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, and include statements regarding completion of the transaction described above and its impact on the Company’s future financial results. Forward-looking statements involve inherent risks, uncertainties and assumptions, including, without limitation, the possibility that the transaction may not materialize as expected or at all.

There can be no assurance that the transaction will be completed in a timely manner or at all. Certain risks that could cause actual results of this transaction to differ materially from those expected by management include the risk factors described in VimpelCom’s Annual Report on Form 20-F for the year ended December 31, 2010, and other public filings made by the VimpelCom with the U.S. Securities and Exchange Commission, which risk factors are incorporated herein by reference.

The forward-looking statements contained in this announcement are made as of the date hereof, and VimpelCom expressly disclaim any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this announcement.

VimpelCom Ltd.

The sixth largest mobile telecommunications carrier by subscribers in the world.

Altimo, a leading private equity group, operating on some of the world’s most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (VimpelCom Ltd., MegaFon and Turkcell Iletisim Hizmetleri A.S.). Those assets are in Russia, the CIS and other promising emerging markets.

VimpelCom Ltd. provides voice and data services through a range of wireless, fixed and broadband technologies. VimpelCom Ltd. is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Armenia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Canada, Italy, Pakistan, Burundi, Namibia, Zimbabwe and Central African Republic covering territory with a total population of about 843 million with over 181 mln subscribers. VimpelCom Ltd. operating companies provide services under the “Beeline”, “Kyivstar”, “Djuice”, “Wind”, “Infostrada”, “Mobilink”, “Leo”, “Banglalink”, “Telecel” and “Djezzy” brands. VimpelCom Ltd. is traded on the New York Stock Exchange under the symbol “VIP”. As of 31 December 2010, Altimo owned 44.65% of the voting shares of VimpelCom Ltd. (since June 2011 — 24.99%).