MTS Capital Structure

Mobile TeleSystems Public Joint Stock Company( “ MTS ” or “ the Company ”)( MOEX MTSS), a leading provider of digital and media services and Russia’s largest mobile driver, announces the transfer ofquasi-treasury shares possessed by MTS attachment and account for around7.4 of MTS’s share capital into unrestricted- end collective fund( CEIF). The deal will enable MTS to optimize part of its charges connected with shares power as well as ameliorate the effectiveness of its capital and liquidity operation.

MTS attachment, LLC Bastion, will transfer its 148600000 ordinary shares of MTS as benefactions to the unrestricted- end collective fund.

The Management Company will have the voting rights with respect to the shares of MTS transferred to the unrestricted- end collective finances, as well as the right to admit tips and dispose of them for investment purposes within the investment protestation. The guidelines for managing the MTS shareholdings transferred to the CEIFs include restrictions on their disposition and chain. MTS keeps the right to further transfer ofquasi-treasury shares to the investment fund as part of a unified strategy for managing share capital.
“ Placing MTSquasi-treasury shares in the trust operation of the Management Company will enable us to achieve several objects contemporaneously. First, MTS Group will be suitable to manage tip overflows on these shares more efficiently and optimize part of its charges. Second, we will be suitable to manage part of the Company’s liquidity more flexibly. And eventually, the streamlined power structure will enhance MTS’s capability to raise capital, ” said Alexey Katunin, MTS Vice President for Finance.

Mobile TeleSystems Public Joint Stock Company( “ MTS ” – MOEX MTSS) is Russia’s ecosystem furnishing network-native digital services and largest mobile driver. The company offers a full range of results for consumers and business guests across wireless and wireline connectivity;over-the-top, direct, and satellite TV; digital-first banking and fiscal services; as well as unified dispatches, pall computing and IoT. There are further than 88 million mobile subscribers using MTS services across the company’s operations in Russia, Armenia, and Belarus, including further than 80 million subscribers in Russia alone. In addition, MTS has a civil network of further than 4,600 possessed and franchised retail outlets in Russia, and provides nearly 10 million guests with broadband, television, and/ or fixed- line telephone connectivity, over 12 million druggies – with OTT and pay television services. The number of ecosystem guests exceeds 14 million. MTS’s shares are listed on the Moscow Exchange under the ticker MTSS. For further information, please visit the company’s Investor Relations website

Some of the information in this press release may contain protrusions or other forward- looking statements regarding unborn events or the unborn fiscal performance of MTS, as defined in the safe harbour vittles of theU.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms similar as “ anticipate, ” “ believe, ” “ anticipate, ” “ estimate, ” “ intend, ” “ will, ” “ could, ” “ may ” or “ might, ” and the negative of similar terms or other analogous expressions. We wish to advise you that these statements are only prognostications and that factual events or results may differ materially. We don’t take over or intend to modernize these statements to reflect events and circumstances being after the date hereof or to reflect the circumstance of unexpected events. We relate you to the documents MTS lines from time to time with theU.S. Securities and Exchange Commission, specifically the Company’s most recent Form 20- F. These documents contain and identify important factors, including those contained in the section identified “ threat Factors ” that could beget the factual results to differ materially from those contained in our protrusions or forward- looking statements, including, among others, the inflexibility and duration of current profitable and fiscal conditions, including the ongoing geopolitical situation relating to the conflict in Ukraine, the expansion of warrants assessed on the Russian Federation by the United States, European Union and United Kingdom, volatility in interest and exchange rates( including oscillations of the value of the Russian ruble against theU.S. bone
and the Euro), commodity and equity prices and the value of fiscal means; the impact of Russian,U.S. and other foreign government programs to restore liquidity and stimulate public and global husbandry, our capability to maintain our current credit standing and the impact on our backing costs and competitive position if we don’t do so, strategic conduct, including accessions and dispositions and our success in integrating acquired businesses, implicit oscillations in daily results, our competitive terrain, dependence on new service development and tariff structures, rapid-fire technological and request change, accession strategy, pitfalls associated with telecommunications structure, governmental regulation of the telecommunications diligence and other pitfalls associated with operating in Russia and the CIS, volatility of stock price, fiscal threat operation and unborn growth subject to pitfalls.

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