Mobile TeleSystems : National Credit Ratings Reaffirms AAA.ru MTS Credit Rating with stable outlook

MOSCOW, Russia - 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 operator, announces that Russia's National Credit Ratings Agency has reaffirmed MTS's credit rating of AAA.ru, the agency's highest, with a stable outlook.
In its report, National Credit Ratings highlighted several key factors that influenced their decision, including:

• Strong market positions, stable client base, as well as moderate growth potential of target markets;
• MTS moderate leverage, significant operating margin, and healthy liquidity levels;
• Transparent ownership structure and high quality of MTS management and strategic planning which further support long-term positive credit history.

The full report is available on the National Credit Ratings website at:
https://ratings.ru/ratings/press-releases/MTS-RA-240123/

Investor Relations Department
Mobile TeleSystems Public Joint Stock Company
Tel: [phone]
E-mail: [e-mail]

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Mobile TeleSystems Public Joint Stock Company ("MTS" - MOEX: MTSS) is Russia's largest mobile operator and a leading provider of network-native digital services. The company offers a full range of solutions for consumers and business customers across wireless and wireline connectivity; over-the-top, linear, and satellite television; digital-first banking and financial services; as well as unified communications, cloud computing and IoT. There are more than 88 million mobile subscribers using MTS services across the company's operations in Russia, Armenia, and Belarus, including around 80 million subscribers in Russia alone. In addition, MTS has a nationwide network of more than 5,400 owned and franchised retail outlets in Russia, and provides nearly 10 million clients with broadband, TV, and/or fixed-line telephone connectivity, over 10 million users - with OTT and pay TV services. The number of ecosystem clients exceeds 12 million and MTS Bank client base is over 3 million. MTS is majority-owned by Sistema PJSFC, a publicly-traded Russian investment company. MTS's shares are listed on the Moscow Exchange under the ticker MTSS. For more information, please visit the company's Investor Relations website at 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 harbour 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 the ongoing geopolitical situation relating to the conflict in Ukraine, the expansion of sanctions imposed on the Russian Federation by the United States, European Union and United Kingdom, volatility in interest and exchange rates (including fluctuations of the value of the Russian ruble against the U.S. dollar and the Euro), 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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