Moscow, Russian Federation – MTS PJSC (“MTS” – NYSE: MBT; MOEX: MTSS), the leading Russian telecommunications operator and digital service provider, announces that the Board of Directors (“the Board”), at a meeting on March 21, 2019, approved the Company’s new dividend policy for 2019-2021.

Under the new dividend policy, the Company will seek to pay at least RUB 28.0 per ordinary MTS share (RUB 56.0 per ADR) per calendar year. Payments will continue to be made on a semi-annual basis. In determining actual dividends payout, the Company will consider a number of factors, including cash flow from operations, capital expenditures and debt position.

In accordance with the new dividend policy, the Board will review proposals for an annual dividend in April 2019 and an interim dividend in July 2019.

The full text of the new dividend policy is available at https://ir.mts.ru/investors/shares/dividends/

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In addition to regular payments under the dividend policy, the Company may further increase shareholder returns through a share buyback program in the open market. When making a decision on the launch and size of a program, the Board of Directors will take into account the current availability of funds, operating performance, amount of debt and future needs of the Company, as well as the overall market situation.

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For further information, please contact in Moscow:

Investor Relations Department 
Mobile TeleSystems PJSC 
Tel: +7 495 223 2025 
E-mail: ir@mts.ru