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Stocks and Dividend policy

Sistema has 9,650,000,000 ordinary shares outstanding, with a par value of RUB 0.09 each. The company's shareholder capital amounts to
RUB 868,500,000.

In February 2005, Sistema held the initial public offering and listing of shares in the form of Global Depositary Receipts on the London Stock Exchange under the symbol SSA. One GDR represents 20 ordinary shares. The company's ordinary shares are traded under the symbol AFKS on the Moscow Exchange. Sistema's free float on the London Stock Exchange is approximately 17.6% and 15.3% on the Moscow Exchange.

Sistema owns 2 public companies: MTS and Detsky Mir. MTS's shares are traded on the New York Stock Exchange in the form of ADRs (ticker: MBT) and MTS's common shares are traded on the Moscow Exchange (ticker: MTSS). Shares of Detsky Mir, a Sistema subsidiary, began trading on Moex in February 2017 under the ticker DSKY.

Chairman of the Board of Directors of Sistema Vladimir Evtushenkov, with 64.2% of shares, is the principal Sistema shareholder.

Dividend policy of Sistema

When determining the recommended dividend, Sistema's Board of Directors is guided by the dividend policy approved in April 2017. The policy states that the recommended total dividend for each reporting year will be, at a minimum, the higher of either an amount equivalent to a dividend yield of 6% per Sistema ordinary share or RUB 1.19 per Sistema ordinary share.

Sistema seeks to distribute dividends twice per year: based on the Company's results for nine months and full year. The amount of dividends paid to shareholders shall be taken into account by the Company’s Board of Directors when determining the amount of the final dividend for the corresponding full reporting year.

The Board of Directors’ calculation of the average dividend yield on Sistema’s ordinary shares shall use the weighted average price of one ordinary share of the Company traded on the Moscow Exchange (the 'Main Market' sector) in the relevant reporting year.

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