Changes to composition of executive body

Kcell JSC

Changes to composition of executive body

Almaty, 21 December 2020 - Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL; AIX: KCEL, KCEL.Y), the leading provider of mobile telecommunications services in Kazakhstan, today announces that effective from 3 January 2021, Kaspars Kukelis, Chief Executive Officer and Chairman of the Management Board, leaves his post in connection with the transfer to another position in the Kazakhtelecom JSC group of companies. This decision was approved by the Company's Board of Directors on 18 December 2020.

Yuri Kharlamov, member of the Management Board, Chief Financial Officer, has been appointed Acting Chief Executive Officer and Chairman of the Management Board effective from 3 January 2021 until a new Chairman of the Management Board is elected.

The Board of Directors of the Company thanks Kaspars Kukelis for his contribution to the development of Kcell, noting that during his tenure the Company was able to achieve significant improvement in key financial and operational indicators. The Kcell Board of Directors wishes Kaspars success in his future projects.

The new composition of the Management Board of Kcell JSC:

1. Yuri Kharlamov - member of the Management Board, Chief Financial Officer; Acting Chief Executive Officer and Chairman of the Management Board;

2. Sergey Yeltsov - member of the Management Board, Chief Legal Officer;

3. Askar Yesserkegenov - member of the Management Board, Chief Technical Officer.

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Company Overview

Kcell provides mobile voice telecommunications services, messaging services, value-added services such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass-market subscribers. The Company offers its services through its extensive, high quality network, which covers substantially all of the populated territory of Kazakhstan.

In December 2012, Kcell successfully completed its offering of GDR's on the London Stock Exchange and common shares on KASE. The price was set at USD 10.50 per GDR and KZT 1,578.68 per share with each GDR representing one share. The offering consisted of 50 million shares, which represent 25 percent of Kcell's share capital.

On 21 December 2018, Kazakhtelecom JSC acquired the 75 percent stake in Kcell held by Telia Company and Fintur Holdings B.V.

Kcell plans to continue investing in the deployment of its 3G/4G network to expand coverage and to introduce high quality services. Kcell aims to provide high quality services at competitive prices, expand its offering of products and services, while maintaining the high quality of its network and enhancing its brand value.