MTS Announces Q1 2022 Results

• Q1 2022 Consolidated Group Revenue increased 8.5% year-over-year to RUB 134.4 bn.
• Q1 2022 Group Adjusted OIBDA increased 2.0% year-over-year to RUB 56.5 bn.
• Q1 2022 Group Net Profit amounted to RUB 3.9 bn.

MOSCOW, May 18, 2022 — Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (NYSE: MBT; MOEX: MTSS), Russia’s largest mobile operator and a leading provider of media and digital services, announces its first-quarter 2022 financial and operating results.

In Q1 2022, Consolidated Group Revenue increased 8.5% year-over-year to reach RUB 134.4 bn, primarily driven by robust top-line performance in the Company’s Telecom, Fintech, and Media verticals.  Group Adjusted OIBDA saw moderate growth of 2.0% year-over-year to RUB 56.5 bn, primarily driven by solid business performance in core telecom services. In Q1 2022, Group Net Profit amounted to RUB 3.9 bn.

Viacheslav Nikolaev, President & CEO, commented: “In Q1 2022, MTS demonstrated steady execution amid an evolving external environment, delivering solid results across many key financial indicators. Our combination of a robust, resilient core telecom business together with emerging high-potential digital verticals has proven once again to be a firm foundation for our continued long-term development. In the current environment, we remain laser focused on ensuring daily business continuity, maintaining ample liquidity and a strong balance sheet, and providing reliable, uninterrupted high-quality services for our customers. I remain confident in our ability to navigate challenges and am happy to once more reaffirm our commitment to deliver for all of our stakeholders.”

Consolidated MTS Group key figures (RUB bn)

Adjusted OIBDA for 1Q 2022 doesn't include a loss from impairment of non-current assets of RUB 207 mln.

Attributable to owners of the Company

Financial results of operating segment «Media» are presented within «Other» category in the Group’s consolidated financial statements

Figures for 1Q21 have been adjusted for separate presentation of operations in Czech Republic.

Adjusted OIBDA for 1Q 2022 doesn't include a loss from impairment of non-current assets of RUB 207 mln.

Net of cash proceeds under sharing agreement.

Excluding lease obligations.