Mobile TeleSystems Public Joint Stock : MTS Board Recommends H1 2021 Dividend (Form 6-K)

MTS Board Recommends H1 2021 Dividend

July 30, 2021

MOSCOW, Russia - Mobile TeleSystems PJSC ('MTS' or 'the Company') (NYSE: MBT; MOEX: MTSS), Russia's largest mobile operator and a leading provider of media and digital services, announces the Company's Board of Directors ('BoD' or 'the Board') has recommended a semi-annual dividend payment based on H1 2021 financial results.

During a meeting on July 29, 2021 the Board reached the following decisions:

·	To call for and set September 30, 2021 as the date of an Extraordinary General Meeting of shareholders ('the EGM') to be held in absentia.

·	To set the record date for the Company's shareholders entitled to participate in the EGM as August 27, 2021.

·	To recommend that the EGM approves semi-annual dividends of RUB 10.55 per ordinary MTS share (RUB 21.10 per ADR), or a total of RUB 21.1 billion (RUB 21,082,925,616.25), based on H1 2021 financial results.

·	To recommend that the EGM set the record date for shareholders entitled to receive dividends for H1 2021 as October 12, 2021.

·	To approve the agenda for the EGM, as well as procedures surrounding the preparation and organization of the EGM.

·	To approve amended versions of the Company's Code of Business Conduct & Ethics, Policy on Compliance with Anti-Corruption Legislation, and Policy on Managing Conflicts of Interest.

Additional materials related to the EGM will be published by August 30, 2021 on the MTS Investor Relations website at:

http://ir.mts.ru/about-mts/corporate-governance/shareholders-meeting/

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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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