SSA.L Regulatory News (SSA)

22 May 2014 15:00

FOR IMMEDIATE RELEASE May 22, 2014

BOARD AND MANAGEMENT APPOINTMENTS

Moscow, Russia – May 22, 2014 – Sistema JSFC (“Sistema”, the “Group” or the “Company”) (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that its Board of Directors held a meeting on May 21, 2014 and included all the current Board members into the list of candidates for election at the Annual General Meeting of shareholders:

- Vladimir Evtushenkov

- Alexander Goncharuk

- Sergei Boev

- Brian Dickie (Independent Director)

- Dmitri Zubov

- Robert Kocharyan (Independent Director)

- Jeannot Krecke (Independent Director)

- Peter Mandelson (Independent Director)

- Roger Munnings (Independent Director)

- Marc Holtzman (Independent Director)

- Serge Tchuruk (Independent Director)

- Mikhail Shamolin

- David Iakobachvili (Independent Director)

In addition, the Board has also approved the following changes to the composition of Sistema’s Management Board:

Alexey Buyanov is leaving Sistema’s Management Board. Mr. Buyanov will be focusing on managing separate investment projects.

Alexey Chupin is leaving Sistema’s Management Board to focus on managing Sistema’s medical assets as President of OJSC Medsi.

Andrey Terebenin has been appointed as the Head of the Investment Portfolio. The new Head of the Corporate Communications division will be announced after finalising internal corporate procedures.

The composition of Sistema’s Management Board will be:

- Mikhail Shamolin (President and Chairman of Sistema’s Management Board)

- Felix Evtushenkov (First Vice President, Head of the Investment Portfolio)

- Anton Abugov (First Vice President, Head of the Investment Portfolio)

- Vsevolod Rozanov (Senior Vice President, Chief Financial Officer)

- Sergei Drozdov (Senior Vice President, Head of the Corporate governance division)

- Christopher Alan Baxter (Senior Vice President, Head of the Investment Portfolio)

- Andrey Terebenin (Senior Vice President, Head of the Investment Portfolio)

- Ali Uzdenov (Senior Vice President, Head of the Investment Portfolio)

- Elena Vitchak (Vice President, Head of HR department)

- Oleg Mubarakshin (Vice President, Head of the Legal functional division)

- Leonid Monosov (Vice President, Head of the Investment Portfolio)

- Michael Hecker (Vice President, Head of the Strategy division)

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For further information, please visit www.sistema.com or contact:

Sistema is the largest publicly-traded diversified holding company in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the Company reported revenues of US$ 35.9 billion for the full year of 2013, and total assets of US$ 43.2 billion as at December 31, 2013. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the Moscow Exchange. Sistema was ranked number 308 in the 2013 edition of the Fortune Global 500 list. Website: www.sistema.com

The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not 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 our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.

Copyright Business Wire 2014