East-West United Bank was acting as Settlement and Custodian Agent for the Tender Offer of Mobile TeleSystems Public Joint Stock Company

On 15 June 2016, Dega Retail Holding Limited (the “Offeror”) launched an offer on behalf, and at the instruction, of Mobile TeleSystems Public Joint Stock Company (the “Company”) to the holders of the outstanding U.S.$750,000,000 8.625 per cent. Loan Participation Notes due 2020 (the “Notes”) issued by, but with limited recourse to, MTS International Funding Limited (the “Issuer”) for the sole purpose of financing a loan to the Company, to tender any and all of the outstanding Notes for purchase by the Offeror for cash (the “Tender Offer”), subject to the terms and conditions set out in the Tender Offer Memorandum dated 15 June 2016 (the “Tender Offer Memorandum”) prepared by the Offeror. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

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