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27 April 2018

MegaFon completes acquisition of Neosprint LLC

Moscow, Russian Federation (27 April 2018) — Public Joint Stock Company “MegaFon” (LSE: MFON), a pan-Russian operator of digital opportunities (“MegaFon” or the “Company”), announces the completion of the acquisition of a 100% stake in Neosprint LLC (the “Acquisition”).

Pursuant to the decision taken by the Company’s Board of Directors on 02 April 2018, as earlier reported at: https://corp.megafon.com/investors/news/capital_market_releases/20180403-0919.html, MegaFon has completed the acquisition of a 100% stake in Neosprint LLC (“Neosprint”), an operator that owns a 24 MHz frequency band in the 3.4 — 3.6 GHz spectrum in Moscow. This is the third largest amount of 3.4 — 3.6 GHz spectrum available in Moscow.

The transaction will allow MegaFon to take an important step towards the development of its 5G network. The spectrum acquired, which is fully available and usable, is spectrum in high demand for the rapid deployment of 5G networks in Moscow. The Company already plans to utilize the spectrum in June of this year to deploy test 5G networks in stadiums hosting the 2018 World Cup games in Moscow.

The total consideration for the Acquisition is RUB 720 million. The Company will pay 70% on or before 7 May 2018, and the remainder of the consideration, after any required adjustments, will be paid 3 months later.

Sergei Soldatenkov, Chief Executive Officer of MegaFon, commented: "The acquisition of Neosprint is in line with our digital strategy and our ambitions to become a leader in implementing the Government’s Digital Economy Programme for Russia. We believe that deployment of 5G networks in Russia will become essential in the 2020 — 2025 timeframe, as we expect that mobile traffic growth rate will accelerate in the coming years. We will use the ability of 5G networks to provide super low latencies and super reliability and to accommodate a much higher density of devices to enable us to implement complex and integrated digital projects for our large corporate and government clients. At the same time, we are very aware that, due to limited availability of spectrum and the high level of investment required, independent development of 5G networks may be challenging. It was for this reason that MegaFon concluded a partnership agreement with Rostelecom to jointly develop 5G networks and to optimize 5G roll-out cost.

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.

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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.
8 October 2018

MegaFon is awarded the Fastest Mobile Provider in Russia

MegaFon was granted the Ookla Speedtest Awards as “the mobile provider offering the fastest data upload and transfer rates”. This is confirmed by more than 7 900 000 speed measurement tests taken by Russian users on their mobile devices via the Speedtest® app in Q1—Q2 2018.
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.