Mobile TeleSystems : MTS Optimizes Capital Structure

MOSCOW, Russia - Mobile TeleSystems Public Joint Stock Company ("MTS") (MOEX: MTSS), a digital ecosystem, announces the transfer of quasi-treasury shares owned by MTS subsidiary and accounting for around 1.1% of MTS's share capital into closed-end mutual fund (CEIF). The deal will enable MTS to optimize part of its expenses connected with shares ownership as well as improve the efficiency of its capital and liquidity management.

MTS subsidiary, LLC Bastion, transfers its 21 500 000 ordinary shares of MTS as contributions to the closed-end mutual fund.

The Management Company of CEIF will have the voting rights with respect to the shares of MTS transferred to the closed-end mutual funds, as well as the right to receive dividends and dispose of them for investment purposes within the investment declaration. The guidelines for managing the MTS shareholdings transferred to the CEIFs include restrictions on their disposition and encumbrance.

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Mobile TeleSystems Public Joint Stock Company ("MTS" - MOEX: MTSS) is Russia's ecosystem providing network-native digital services and largest mobile operator. 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 86 million mobile subscribers using MTS services across the company's operations in Russia and Belarus, including more than 81 million subscribers in Russia alone. In addition, MTS has a nationwide network of more than 4,300 owned and franchised retail outlets in Russia, and provides nearly 10 million clients with broadband, TV, and/or fixed-line telephone connectivity, over 13 million users - with OTT and pay TV services. The number of ecosystem clients exceeds 14 million. 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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