Mobile TeleSystems Public Joint Stock : Russia’s AK&M Upgrades MTS’s ESG Reporting Rating to Agency’s Highest

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 that Russia's AK&M agency has awarded the company the agency's highest possible ESG Reporting Rating, an assessment of completeness of information in corporate sustainability and ESG reporting.

AK&M analysts upgraded MTS's rating to RESG1 from RESG2 a year earlier, noting the high degree of sustainability disclosure in MTS public reporting, as well as the company's successful work in social initiatives and its forward-looking sustainable development strategy.

Regina von Flemming, Chairman of the ESG Committee and Independent Director of the MTS Board of Directors, commented: "Being an industry leader in today's world requires strengthening and enhancing sustainability management, because all stakeholders - not just investors, but also customers - are closely monitoring and tracking progress in these areas. More than 70 percent of global consumers say they look unfavorably at companies that put profit ahead of social wellbeing.¹

"This year, MTS established an ESG committee under the Board of Directors to enhance coordination and sharpen our focus on long-term ESG goals, as well as more effectively define our path forward on this important journey. We are happy that these steps are being recognized in Russia and abroad, including by AK&M in upgrading MTS's ESG reporting rating to its highest level, as well as by the UN in including MTS's Generation M children's charity initiatve among its global best practices in advancing the UN Sustainable Development Goals. This recognition further reinforces our commitment to proactively develop our ESG agenda."

AK&M commented in a statement: "MTS, due to the specifics of its activities, does not have a serious impact on the environment, however, taking seriously the issues of environmental conservation and the problem of global climate change, publishes detailed environmental data on its activities. In particular, the company, being a member of the JAC "Climate Change Workstream" working group, provides the best disclosure about the carbon footprint among telecommunications companies by publishing the amount of greenhouse gas emissions by category and major assets."

About the AK&M ESG Reporting Rating

The ESG reporting rating has been calculated by the AK&M rating agency since 2020. The focus of the research is the completeness of information about sustainable development in corporate reports (annual and sustainable development reports), as well as its availability. The study examines 88 markers. The main purpose of the rating is to show the professional community the best practices of disclosing information about the social and environmental activities of companies.

In 2021, the ESG Reporting Rating included leading Russian companies that were the first in Russia to build their business in accordance with the UN Sustainable Development Goals.

More details can be found at https://akmrating.ru.

[1]Research of Edelman Trust Barometerhttps://www.edelman.com/research/covid-19-brand-trust-report