MTS Announces Q4 & FY 2021 Results

March 3, 2022

• FY 2021 Consolidated Group Revenue increased 8.0% year-over-year to RUB 534.4 bn.
• FY 2021 Group Adjusted OIBDA increased 6.6% year-over-year to RUB 229.4 bn.
• FY 2021 Group Net Profit increased 3.4% year-over-year to RUB 63.5 bn.

MOSCOW, March 3, 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 fourth-quarter and full-year 2021 financial and operating results.

For the full-year, the Company delivered robust performance in line with its previously provided guidance for 2021. Group Revenue in 2021 increased 8.0% year-over-year to reach RUB 534.4 bn, with top-line contributions across all segments, including Telecom, Fintech, and Media. FY 2021 Group Adjusted OIBDA increased 6.6% year-over-year to RUB 229.4 bn on the back of solid business performance in Telecom, Fintech, and Media, among other impacts.

Group Net Profit increased 3.4% year-over-year in 2021 to reach RUB 63.5 bn, driven primarily by core business performance and a significant positive impact from Fintech, which more than overcame negative impacts. Group Cash CAPEX in 2021 amounted to RUB 111.0 bn.

Viacheslav Nikolaev, President & CEO, commented: "2021 was landmark year for MTS as we accelerated our progress in priority directions - most notably deepening engagement across our expanding digital ecosystem. Overall, I am happy to report we delivered a robust set of financial results from the top to the bottom line. We had a key strategic breakthrough in Media with the launch of our KION platform, and in Fintech, MTS Bank is rapidly achieving significant standalone scale with a proven business model. And in Telecom, we continued to build on our track record of solid, sustainable growth in mobile and fixed-line connectivity. These achievements once more demonstrate our continued successful execution of our long-term strategy to drive lifetime value across our established client base of tens of millions of customers."

Consolidated MTS Group key figures (RUB bn)

1 Financials for 2020 have been restated due to the deconsolidation of NVision Group.

Adjusted OIBDA for 4Q2020 and 2020 doesn't include a loss from impairment of non-current assets of RUB 808 m and RUB 2,088 m respectively.

Net of cash proceeds under sharing agreement.

Excluding lease obligations.