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13 March 2018

Resolutions taken by the EGM

Moscow, Russian Federation (13 March 2018) — Public Joint Stock Company “MegaFon” (LSE: MFON), a pan-Russian operator of digital solutions, (“MegaFon” or the “Company”), announces that the following resolutions were adopted at the Extraordinary General Meeting (EGM) of Shareholders held on 12 March 2018 in the form of a face-to-face meeting:
  1. Election of the Revision Commission of the Company. The following persons were elected to the Revision Commission of the Company:

    1. Yuri Antonovich Zheimo
    2. Gagik Arutyunovich Grigoryan
    3. Dmitry Vladimirovich Miklush
  2. Approval of the size of the Management Board of the Company (9 persons) and election of the Management Board of the Company. The following persons were elected to the Management Board by the shareholders of the Company:

    1. Sergey Vladimirovich Soldatenkov
    2. Alexander Anatolievich Barunin
    3. Valentina Igorevna Vatrak
    4. Gevork Arutyunovich Vermishyan
    5. Vlad Wolfson
    6. Dmitry Kononov
    7. Pavel Viktorovich Korchagin
    8. Anna Andreevna Serebryanikova
    9. Alexander Andreevich Sobolev
  3. Determination of the amount of remuneration and (or) compensation of expenses to the members of the Company’s Board of Directors related to performance of their duties. The following resolutions were taken:

    1. To fix the amount of the fee payable to an independent Board member of the Company for his/her performance as the Company’s independent Board member in the amount of EUR 250,000 (Two Hundred Fifty Thousand) for one calendar year.

      The indicated remuneration shall be payable to the independent Board member in proportion to the actual period of performance as the independent Board member and be determined as a product of the amount of the independent Board member’s fee multiplied by the ratio of the actual period of the Board member’s service and the number of days in the respective calendar year. In this case:

      the start date for the actual performance as the independent Board member shall be deemed to be:

      1. the date of his/her election to the Company’s Board of Directors, provided that he/she complies with the independence criteria as of the date of election to the Company’s Board of Directors, or
      2. the date, when he/she is recognized to be independent by the decision of the Company’s Board of Directors, if he/she becomes to comply with the independence criteria after beingelected to the Company’s Board of Directors; and
      the end date for the actual performance as the independent Board member shall be deemed to be:
      1. the date when he/she ceases to be Company’s Board member, provided that he/she complies with the independence criteria as of the date of termination, or
      2. the date when he/she actually stopped complying with the independence criteria.
      The actual period of the independent Board member’s service shall be calculated in business days according to the labor calendar in compliance with the Russian Federation law. In addition to the Board membership fee, the independent Board members of the Company shall get full compensation of documented overhead expenses incurred in relation to the Company’s Board meetings. Such overhead expenses shall be reimbursed against the original source documents as presented by the independent Board members of the Company that meet the requirements of the Russian Federation statutory accounting.
    2. To fix the amount of the fee payable to a non-independent Board member of the Company for his/her performance as the Company’s Board member in the amount of USD 40,000 (Forty Thousand) for one calendar year.

      The said remuneration shall be payable to the Board member in proportion to the actual period of performance as the Board member and be determined as a product of the amount of the Board member’s fee multiplied by the ratio of the actual period of the Board member’s service and the number of days in the respective calendar year. The actual period of the Board member’s service shall be calculated in business days according to the labor calendar in compliance with the Russian Federation law.

    3. To fix the amount of the fee payable to the Chairman of the Board of Directors of the Company for his/her performance as the Chairman of the Company’s Board of Directors: USD 60,000 (Sixty Thousand) for one calendar year.

      The said remuneration shall be payable to the Chairman of the Board of Directors in proportion to the actual period of performance as the Chairman of the Board of Directors and be determined as a product of the amount of the Board Chairman’s fee multiplied by the ratio of the actual period of the Board Chairman’s service and the number of days in the respective calendar year. The actual period of the Board Chairman’s service shall be calculated in business days according to the labor calendar in compliance with the Russian Federation law.

    4. The remuneration shall be paid as follows:

      The remuneration for the period from the date of the Annual General Shareholders’ Meeting till the end of the respective present calendar year shall be payable no later than January 31 of the next calendar year.

      The remuneration for the period starting from January 1 of the respective present calendar year till the date of the Annual General Shareholders’ Meeting shall be payable no later than July 31 of the respective present calendar year once held the Annual General Shareholders’ Meeting.

    5. The amount of remuneration shall be determined accurate till the second decimal place according to the mathematical rounding rules.

      Remuneration shall be subject to deduction of all applicable taxes of the Russian Federation. Remuneration to residents of the Russian Federation shall be payable in the Russian Rubles at the exchange rate of the Bank of Russia as of the date of actual transfer of the funds. Remuneration to non-residents of the Russian Federation shall be payable in EURO.

    6. This resolution shall cover the period from the date of the EGM held on 19 January 2018, as reported earlier at: http://corp.megafon.com/investors/news/capital_market_releases/20180122-1049.html, shall have unlimited term and shall cease its effect, in case the Company’s General Shareholders’ Meeting adopts a new resolution that cancels the current resolution.

    7. Payment of remuneration to the Company’s Board members, who have performed their duties prior to 19.01.2018, shall be made in the amount, according to the procedures and within the timeline as set forth by the resolution on determination of the amount of remuneration and (or) compensation of expenses to the members of the Company’s Board of Directors related to performance of their duties as adopted by the EGM held on 22 September 2014, as reported at: http://corp.megafon.com/investors/news/capital_market_releases/20140923-1141.html. In any other respect, the abovementioned resolution of the Company’s EGM ceased its effect on 19 January 2018.

    8. To pay additional bonus in the amount of GBP 200,000 (Two Hundred Thousand) net of taxes to the independent Board member Lord Paul Myners for his performance as the Board member of the Company from 2013 till 2018.

    9. To pay additional bonus in the amount of GBP 200,000 (Two Hundred Thousand) net of taxes to the independent Board member Jan Eric Rudberg for his performance as the Board member of the Company from 2010 till 2018.

  4. Approval of the Company’s membership in the National Association of Industrial Internet Market Participants.

For More Information:

PJSC MegaFon
Investors: Dmitry Kononov
Director for Investor Relations and M&A
Tel: +7 926 200 6490 dkononov@megafon.ru
Media: Yulia Dorokhina
Head of Media Relations
Tel: +7 926 200 6854 ydorokhina@Megafon.ru

Notes to Editors

MegaFon PJSC is a leading Russian integrated telecommunication service provider, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange and the London Stock Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru.

Cautionary Statement Regarding Forward Looking Statements

Some of the information in this document may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as “expect”, “believe”, “anticipate”, “estimate”, “forecast”, “intend”, “will”, “could”, “may”, or “might” the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.

Statement Regarding Inside Information

Some of the information in this document may be inside information. The subject matter, the identity of the issuer, the identity of the persons making the notification and their titles, and the date and time of the notification are all as set forth above.

All news

Other news

11 October 2018

MegaFon announces that Sergey Soldatenkov will be stepping down as CEO of MegaFon, to be replaced by Gevork Vermishyan

Moscow, Russian Federation (11 October 2018) — Public Joint Stock Company “MegaFon” (MoEx: MFON), a pan-Russian operator of digital opportunities (“MegaFon” or the “Company”), announces that its General Director and CEO, Sergey Soldatenkov has decided to leave the Company before the expiration of his contract in 2019, and that its Board of Directors has determined to recommend to the shareholders that Gevork Vermishian, currently its Executive Director, be appointed as General Director and CEO in his place. A General Shareholders Meeting is being convened on 13 November 2018 to approve this appointment, as required by the Company’s constituent documents.
4 October 2018

Delisting of MegaFon GDRs from the London Stock Exchange

Moscow, Russian Federation (04 October 2018) — Public Joint Stock Company “MegaFon” (LSE: MFON), a pan-Russian operator of digital solutions, (“MegaFon” or the “Company”), announces that following the application to the United Kingdom Listing Authority and the London Stock Exchange (“LSE”), as earlier reported at: https://corp.megafon.com/investors/news/capital_market_releases/20180906-1909.html, the listing and admission to trading of its Regulation S and Rule 144A Global Depositary Receipts (“GDRs”) (CUSIP: 58517T209 and 58517T100, respectively, ISIN: US58517T2096 and US58517T1007, respectively, SEDOL: B8PQQ77 and B832YZ1, respectively), each representing one ordinary share of the Company (each, a “Share”), on the LSE has been cancelled with effect from start of trading on October 5, 2018.
21 September 2018

Resolutions taken by the EGM

Moscow, Russian Federation (21 September 2018) — Public Joint Stock Company “MegaFon” (LSE: MFON), a pan-Russian operator of digital solutions, (“MegaFon” or the “Company”), announces that MegaFon’s Extraordinary General Shareholders’ Meeting (EGM) at a meeting held by absentee voting on 19 September 2018 took the following resolutions: