Sistema completes sale of minority stake in Segezha Group

Moscow, Russia – 29 December 2021 – Sistema PJSFC (“Sistema” or the “Corporation”) (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, announces the closing of the sale of 8.7% of the ordinary shares of PJSC Segezha Group (“Segezha Group” or “the Holding”), a leading timber holding company, to Bonum Capital Ltd for $150 million (“the Transaction”). 

Following the closing of the Transaction, the Corporation’s stake in the share capital of Segezha Group stood at 62.2%.

Prior to the closing of the Transaction, Segezha Group also completed the acquisition from Bonum Capital Ltd of 100% of the share capital of LLC Inter Forest Rus (“Inter Forest Rus”), the owner of 24 timber industry enterprises as well as a substantial forest resource base in the Krasnoyarsk and Irkutsk regions. As a result of the acquisition of Inter Forest Rus, the Holding strengthens its positions as a Russian and European leader in timber production and nearly doubles its annual allowable cut to 23.6 million cubic metres. The Holding becomes one of the largest forest leaseholders in the world with 16 million hectares of forest land.

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Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets 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 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. 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 Moscow Exchange. Website: www.sistema.com.  

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


Public Relations

Sergey Kopytov

Tel.: +7 (495) 730 17 05

kopytov@sistema.ru

Investor Relations

Sergey Levitskiy

Tel: +7 (495) 730 66 00

s.levitskiy@sistema.ru

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies.

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