Sistema increases effective stake in Etalon Group to 48.8%

Moscow, Russia – 4 May 2022 – Sistema PJSFC (“Sistema”, the “Corporation”, or together with its subsidiaries and affiliates the “Group”) announces that the non-deliverable swap agreement concluded in May 2021 between Sistema and a financial partner with respect to global depositary receipts of Etalon Group PLC (the “GDRs”) was terminated. The Corporation’s wholly-owned subsidiary Sistema Finance JSC thereby acquired 72,854,619 GDRs for a total of RUB 4.5 billion, and the Group’s effective stake in Etalon Group PLC increased to 48.8%.

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Sistema PJSFC is a publicly traded diversified Russian holding company in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2021 was RUB 802.4 billion; total assets equalled RUB 1.8 trillion as of 31 December 2021. Sistema's global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.ru.