Mail.ru GDRs start trading on the Moscow Exchange

2 July 2020 For immediate release

Mail.ru Group GDRs start trading on the Moscow Exchange

MAIL.RU GROUP LIMITED ("Mail.ru Group" or the "Company") announces that its Global Depositary Receipts (GDRs) (ISIN US5603172082) have started trading on the Moscow Exchange (ticker: MAIL), having been included in the Level 1 List.

Commenting on the event Boris Dobrodeev, CEO (Russia) of Mail.ru Group, said: "Today's listing on the local exchange marks a major milestone in our history as a public company, enabling millions of Russians to become our shareholders. Russia's local retail investor base has been rising rapidly, and they will now have access to our GDRs through the Moscow Exchange. In the meantime, we will continue to create technologies that will increase shareholder value, and believe that the listing will enhance the overall liquidity of our company."

Local listing is one of the key requirements for future indexation, bound to increase Mail.ru Group's visibility among funds looking at the Russian equity market.

"We are pleased that more and more companies with Russian roots are opting for a secondary listing on the Moscow Exchange ("MOEX"). There are more than 5.3 million private investors with access to MOEX markets, and now they can buy Mail.ru Group shares using Russian infrastructure, with clear and convenient rules, and paying in Russian roubles. I hope that Mail.ru Group's depositary receipts will be actively traded on our Exchange and become popular among individual investors, who are familiar with Mail.ru Group's business given that the company's services cover practically all Internet segments and are part of daily life for many Russians," said MOEX CEO, Yuri Denisov.

For further information please contact:

Investors

Tatiana Volochkovich

Phone: +7 495 725 6357 extension: 3434

Mobile: +7 905 594 6604

Email: t.volochkovich@corp.mail.ru

Press:Ksenia EgorovaMobile: +7 915 314 7797 Email: k.egorova@corp.mail.ru

Cautionary Statement Regarding Forward Looking Statements and Disclaimers

This press release contains statements of expectation and other forward-looking statements regarding future events or the future financial performance of the Group. 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 including "outlook" or "guidance". The forward-looking statements in this release are based upon various assumptions that are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and may be beyond the Group's control. Actual results could differ materially from those discussed in the forward looking statements herein. Many factors could cause actual results to differ materially from those discussed in the forward looking statements included herein, including competition in the marketplace, changes in consumer preferences, the degree of Internet penetration and online advertising in Russia, concerns about data security, claims of intellectual property infringement, adverse media speculation, changes in political, social, legal or economic conditions in Russia, exchange rate fluctuations, and the Group's success in identifying and responding to these and other risks involved in its business, including those referenced under "Risk Factors" in the Group's public filings. The forward-looking statements contained herein speak only as of the date they were made, and the Group does not intend to amend or update these statements except to the extent required by law to reflect events and circumstances occurring after the date hereof.

About Mail.ru Group:

Mail.ru Group (MAIL, listed since November 5, 2010) is the largest internet business in Russia in terms of total daily audience (Mediascope WEB-Index Desktop&Mobile, Russia 0+, population aged 12+, March 2020).

Mail.ru Group is developing the leading domestic internet communications and entertainment platform. The company owns Russia's two largest Russian language social networks, VKontakte (VK) and Odnoklassniki (OK), leading email service, one of Russia's largest internet portals (Mail.ru), and four instant messaging services. The company also holds the international gaming brand MY.GAMES, with a portfolio of hundreds of popular games for a range of platforms and over 605 million users worldwide. In 2019, Mail.ru Group Tech Lab was launched with a primary focus on technology and innovation development.

Mail.ru Group is a shareholder of AliExpress Russia JV along with Alibaba Group, MegaFon and Russian Direct Investment Fund. The company partners with Sberbank to jointly develop O2O service platform targeting food delivery and taxi markets.

About MOEX:

MOEX operates Russia's main trading platform for currencies, money market instruments, equities, bonds, derivative instruments and commodities. The Group includes the central securities depository (National Settlement Depository) and a clearing center (National Clearing Centre), performing the functions of central counterparty on the markets, which allows MOEX to offer its clients a full range of trading and post-trading services.