Investor Relations and Dividend Policy Committee (IR Committee)

Dear shareholders of Sistema,

Accountability to shareholders, transparency for all stakeholders and active communications with investors are the basic values of Sistema. The Corporation strives to be among the first to implement the best international practices of corporate governance at its portfolio companies as their preparing for entering capital markets and actively works with regulators, market players and the investment community in order to enhance the transparency of the Russian market.

Sistema has the Investor Relations and Dividend Policy Committee of the Board of Directors, which is tasked with facilitating the development and implementation of the company's IR strategy and dividend policy and control over their execution.

The Committee comprises only independent directors that have vast professional knowledge in various areas and extensive experience of management and board work at leading international and Russian companies.

We are open to your questions, ideas and suggestions and hope for a constructive dialogue that will enhance the investment appeal of Sistema.

Best regards,

Independent directors, members of the Investor Relations and Dividend Policy Committee of the Board of Directors, Sistema PJSFC.

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