Mobile TeleSystems Public Joint Stock : MTS Board Sets AGM Date, Recommends FY2019 Dividend

MOSCOW, Russia - MTS (NYSE: MBT; MOEX: MTSS), Russia's leading mobile connectivity and digital services provider, announces the decisions reached at the meeting of the Board of Directors ('the Board') held on April 9, 2020.

At the meeting, the Board set June 24, 2020 as the date of the Company's Annual General Meeting of Shareholders ('the AGM'), which will be conducted remotely via online and mail-in voting. The record date for the Company's shareholders and ADR-holders entitled to participate in the AGM has been set for June 1, 2020.

At the meeting, the Board also took the following decisions:

• The Board recommended that the AGM approve annual dividends of RUB 20.57 per ordinary MTS share (RUB 41.14 per ADR), or a total of RUB 41.1 billion (RUB 41,106,345,649.27), based on the Company's full-year 2019 financial results.
• The Board recommended that the AGM set the record date for shareholders and ADR-holders entitled to receive dividends for the 2019 fiscal year for July 9, 2020.

In addition, the Board dissolved the Budget Committee and approved the compositions of the following committees:

• Strategy Committee: Alexey Katkov (Chairman), Antonios Antoniou, Artem Zassoursky, Alexey Kornya, Regina von Flemming, Vsevolod Rozanov, Alexander Gorbunov, and Vladimir Travkov.
• Corporate Governance Committee: Vsevolod Rozanov (Chairman), Antonios Antoniou, Artem Zassoursky, Thomas Holtrop, Alexey Kornya, Ruslan Ibragimov, Andrey Shmakov, and Alexey Barsegyan.
• Special Committee on Compliance Matters: Thomas Holtrop (Chairman), Antonios Antoniou, Regina von Flemming, Vsevolod Rozanov, Artem Zassoursky, Leida Lukianova, and Alexey Barsegyan.

Matters submitted to the AGM agenda by the Board include:

• Approval of the MTS PJSC Annual Report; MTS PJSC Annual Financial Statements, including MTS PJSC Profit & Loss Statement; and distribution of profits and losses of MTS PJSC based on FY 2019 results (including payment of dividends);
• Election of members of the Board of Directors;
• Election of members of the Audit Commission;
• Approval of the Company's auditor;
• Approval of the Regulations on the Board of Directors as amended and restated; and
• Approval of MTS's membership in certain non-commercial organizations.

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For further information, please contact in Moscow:

Investor Relations Department

Mobile TeleSystems PJSC

Tel: [phone]

E-mail: [e-mail]

Learn more about MTS. Visit the official blog of the Investor Relations Department at www.ir.mts.ru/ir-blog

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Mobile TeleSystems PJSC ('MTS' - NYSE: MBT; MOEX: MTSS), Russia's leading mobile connectivity and digital services provider, offers a range of mobile, fixed-line, and digital services. We serve over 80 million mobile subscribers in Russia, Armenia, and Belarus, and about 9 million customers in Russia of fixed-line services, including fixed voice, broadband internet, and pay-TV. To keep pace with evolving customer demand, MTS is redefining what telecommunications services are by offering innovative products beyond its core network-related businesses in various tech segments, including Big Data, financial and banking services, internet of things, OTT, cloud computing, systems integration and e-commerce. We leverage our market-leading retail network as a platform for customer services and sales of devices and accessories. MTS maintains its leadership in the Russian mobile market in terms of revenue and profitability. MTS is majority-owned by Sistema PJSFC. Since 2000, MTS shares have been listed on the New York Stock Exchange and since 2003 - on the Moscow Exchange. For more information, please visit: www.ir.mts.ru.

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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as 'expect,' 'believe,' 'anticipate,' 'estimate,' 'intend,' 'will,' 'could,' 'may' or 'might,' and the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not undertake or intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.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 captioned 'Risk Factors' that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of Russian, U.S. and other foreign government programs to restore liquidity and stimulate national and global economies, our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, governmental regulation of the telecommunications industries and other risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.

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