Moscow, Russian Federation – Mobile TeleSystems PJSC (“MTS” or "the Company" – NYSE: MBT; MOEX: MTSS), the leading telecommunications provider in Russia and the CIS, announces decisions reached at a meeting of the Board of Directors held on December 17, 2015.

The Board of Directors decided to call an Extraordinary General Meeting of shareholders (the “EGM”) on February 29, 2016. The record date for the Company’s share- and ADR-holders entitled to participate in the EGM has been set for January 15, 2016.

The matters to be considered and resolved by the EGM include:

• The reorganization of MTS PJSC through the takeover of its subsidiary Sistema Inventure JS, and approval of accession agreement;
• Amendments to the Charter of MTS PJSC.

The Board decided that owners of MTS ordinary shares voting against this issue or those who abstain from voting will be eligible to submit their shares for repurchase at the price of RUB 167 per ordinary share. The price was set based on the appraisal conducted by 2K JS consultancy.

The Board has also decided:

• to increase MTS PJSC’s direct ownership stake in the charter capital of Sistema Inventure JS to 100%;
• to approve MTS PJSC’s participation in the charter capital of Jums Projects LLC;
• to discontinue MTS PJSC’s participation in the charter capital of Mobile TeleSystems Bermuda Limited through the voluntary liquidation of Mobile TeleSystems Bermuda Limited.

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For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru