Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) entered into a definitive agreement to acquire additional 70% stake in Sistema Capital Management Company, from Sistema Public Joint Stock Financial Corporation (MISX:AFKS) for RUB 3.5 billion on September 16, 2021. Mobile TeleSystems will increase its share in Sistema Capital to 100%. The transaction was recommended for approval by Audit Committee and MTS Board of Directors has approved the transaction. The transaction has received all necessary corporate and regulatory approvals. The deal is expected to close in the near future. UBS AG, London Branch served as a financial advisor and a fairness opinion provider for Mobile TeleSystems Public Joint Stock Company. Cleary Gottlieb Steen & Hamilton LLP served as a legal advisor for Mobile TeleSystems Public Joint Stock Company.

Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) completed the acquisition of a 70% stake in Sistema Capital Management Company, LLC from Sistema Public Joint Stock Financial Corporation (MISX:AFKS) on September 27, 2021. The deal value is RUB 26 million net of cash acquired and RUB 90 million assumed liabilities.