Sistema PJSFC: Sistema Announces Appointment of New CEO

Sistema Announces Appointment of New CEO

Moscow, 18 April 2020 - Sistema PJSFC (hereinafter, "Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that Vladimir Chirakhov, Chairman of the Board of Directors of Detsky Mir, has been appointed President and CEO of Sistema. In accordance with the decision of the Board of Directors of Sistema, Vladimir Chirakhov's appointment is effective as of 20 April 2020. Andrey Dubovkov, who previously served as President and CEO of Sistema, has been elected Deputy Chairman of the Board of Directors of Sistema.

Bio:

Vladimir Chirakhov joined Detsky Mir in March 2012. From October 2012 till April 2020 he served as CEO of Detsky Mir. On 3 April 2020 he was appointed Chairman of the Board of Detsky Mir. From 2009 till 2012 he served at retail chain Korablik in various roles, from commercial director to CEO. From 2001 till 2009 Vladimir worked in the leading retail companies Partiya-Electronics, M.Video and Lindex.

In 1996 Vladimir graduated from the Federal Security Service Academy with a degree with honors in applied mathematics. In 2000 he completed studies under programme "Systems Analysis and Business Management" in the Moscow International Higher Business School MIRBIS. In 2001, he received a degree with honors in management from the Academy of National Economy under the Government of the Russian Federation. In 2013 Vladimir completed Executive MBA programme in the Moscow School of Management Skolkovo.

In March 2020 Vladimir Chirakhov was awarded the Order of Friendship by a Decree of the President of the Russian Federation.

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Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers 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 2019 was RUB 656.9 billion; total assets equalled RUB 1.3 trn as of 31 December 2019. 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.com.

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