Resignation of Director for IR and M&A

Moscow, Russian Federation (17 June 2019) - Public Joint Stock Company "MegaFon" (MOEX: MFON), a pan-Russian operator of digital opportunities ("MegaFon" or the "Company"), hereby announces that Mr. Dmitry Kononov is resigning as Director for IR and M&A and as a member of the Company's Management Board effective June 28, 2019 to pursue other career opportunities.

Mr Kononov intends to focus on the implementation of various strategic projects within the USM Holdings Group. M&A business development will be supervised by Alexander Sobolev, MegaFon's Chief Strategy Officer, Member of the Board.

Dmitry Kononov joined MegaFon in September 2000 and took an immediate leadership role in relation to the Company's financial functions. He served as its first Chief Financial Officer from 2002 to 2004. He re-joined MegaFon in December 2008 as Director for Mergers and Acquisitions, and was appointed as the Director of Investor Relations in October 2012 in the lead-up to the Company's IPO of its ordinary shares and global depositary receipts on the Moscow Exchange and the London Stock Exchange, respectively, in November 2012.

During his tenure as Director for M&A, he was responsible for the development of MegaFon's business through acquisitions. Mr. Kononov guided such significant for the Company transactions as acquisitions of CJSC Synterra, an integrated telecommunications services provider, NetByNet, an operator of fixed-line broadband, digital TV and IP telephony businesses, purchase of 50% stake in Euroset, the largest retailer of wireless equipment in Russia, a 4G/LTE network operator Scartel / Yota, several assets of the SMARTS group of companies, a controlling stake in Mail.ru Group Limited, and many more.

Mr Kononov said: "After a long career at MegaFon, I have decided that it is time for me to move on to pursue new opportunities outside the Company. Today, I can say that I am leaving a solid company that has achieved the status of the second largest mobile operator in Russia and is widely recognized as an innovative player. I want to thank the Company's management board, its business partners and its staff for the support that they have given me during my tenure at MegaFon".

Gevork Vermishyan, CEO of the Company, commented as follows on the resignation of Dmitry Kononov: "Over the years, MegaFon has undergone a transformation from a classic mobile operator to a diversified digital company. The Company completed its IPO and a subsequent delisting, and conducted a considerable amount of transactions that allowed MegaFon to expand its geographical footprint, establish a greater presence in non-core areas, including the fixed-line broadband segment and new technologies, and improve the Company's market share. We are grateful to Dmitry for his many years of contribution to the development of the Company"

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For More Information:

PJSC MegaFon

Media: Artem Lebedev Tel: + 7 925 696 0677 artem.lebedev@megafon.ru
Investors: Tel: +7 495 926 2012 ir@megafon.ru
 

Notes to Editors

Notes to Editors

MegaFon PJSC is a pan-Russian operator of digital opportunities, 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. 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.