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Delivering on Digital PJSC ROSTELECOM’S ANNUAL REPORT 2019

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Delivering on Digital PJSC ROSTELECOM’S ANNUAL REPORT 2019 ANNUAL REPORT Delivering on Digital PJSC ROSTELECOM’S ANNUAL REPORT 2019 Table of Contents 2.1. Industry Overview and Competitive Analysis .....................30 OIBDA .......................................................................................................116 President and Management Board ..........................................153 Global industry ....................................................................................30 Debt ...........................................................................................................117 3.4. Control Bodies ....................................................................................157 Key digital legislative developments 2.9. Sustainability Management ..........................................................118 External audit ......................................................................................157 in Russia in 2019 ..................................................................................43 Rostelecom’s sustainability management .............................119 Compliance and anti-corruption efforts ..............................158 2.2. Development Strategy .....................................................................44 2.10. Risk Management ............................................................................132 3.5. Remuneration .....................................................................................160 Rostelecom Strategic priorities for 2018–2022 ............................................45 Risk management system .............................................................132 Board of Directors ...........................................................................160 Today Long-Term Development Programme ......................................49 Rostelecom Group’s risks .............................................................134 President and Management Board ..........................................162 2.3. Business Model ...................................................................................50 Audit Commission.............................................................................163 2.4. Key Strategic Projects ....................................................................54 Incentive programmes ....................................................................164 Bridging the Digital Divide .............................................................55 3.6. Information Disclosure ...................................................................167 1 Video surveillance and broadcasting 3.7. Securities and Shareholder during the Unified State Examination and Investor Relations ....................................................................168 and the Single Voting Day ..............................................................56 Securities ..............................................................................................168 1.1. Company Profile .................................................................................... 6 Unified Biometric System ...............................................................56 Corporate Dividends ................................................................................................171 About the Report .................................................................................. 6 Construction of the Sakhalin–Kuril Islands submarine Governance Credit ratings ......................................................................................172 2019 — Delivering on Digital ........................................................... 6 fibre-optic cable link .........................................................................57 Shareholder and investor relations .........................................172 1.2. Highlights ..................................................................................................8 Internet access and data services for social 1.3. Digital Service Ecosystems ............................................................ 9 infrastructure facilities ......................................................................58 1.4. Chairman’s Statement ........................................................................12 Connecting facilities of the Federal 3 1.5. Letter from the President ................................................................14 State-Owned Enterprise Russian Television 1.6. Rostelecom’s Structure and Radio Broadcasting Network to fibre .............................58 and Geography of Operations .......................................................16 5G mobile network development in Russia ..........................59 3.1. Chairman’s Statement ......................................................................141 1.7. Key Events ..............................................................................................18 2.5. Capital Investment .............................................................................60 3.2. Corporate Governance Framework .........................................142 Additional History milestones .............................................................................20 Major capital investment projects in 2019 ...........................60 PJSC Rostelecom’s corporate information 1.8. Strategic Vision ....................................................................................22 2.6. M&A Activities........................................................................................61 governance structure .....................................................................142 Strategic vision, priorities and goals Consolidation of 100% of Tele2 Russia ...................................61 Key policies ..........................................................................................143 for 2018–2022 ......................................................................................22 Other deals ............................................................................................ 66 Key Improvements in 2019 ...........................................................143 1.9. Sustainable Business ........................................................................23 2.7. Operating Review ............................................................................. 70 Corporate governance self-assessment results ..............144 4 Sustainable Development Goals Key product and segment highlights of 2019 .................... 70 Plans to improve corporate governance ..............................144 prioritised by Rostelecom ..............................................................23 Marketing strategy...............................................................................71 3.3. Governing Bodies .............................................................................145 Our ESG priorities ...............................................................................24 Customer service excellence ........................................................71 Plans to improve corporate governance ..............................145 4.1. Consolidated Financial Statements 2019 ............................176 Rostelecom’s ESG Performance in 2019 ................................25 Leadership in key markets .............................................................72 Board of Directors ............................................................................145 4.2. Glossary ...............................................................................................290 1.10. Investment Case ....................................................................................26 Reinforcing Rostelecom’s leadership by promoting Corporate Secretary .......................................................................153 4.3. Contact Details ..................................................................................295 services with high growth potential .......................................... 74 Developing product ecosystems and improving customer experience ........................................ 74 Residential segment (B2C) ............................................................ 74 Corporate and government customers (B2B/G) ................78 Services for operators (B2O) ........................................................91 Strategic Key IT initiatives in 2019 ..................................................................98 Report Human capital development ........................................................ 99 Operational excellence ................................................................. 102 2.8. Financial Performance.....................................................................112 Key financial highlights ...................................................................112 2 Revenue breakdown .........................................................................115 Operating expenses .........................................................................116 2 3 2019 PJSC ROSTELECOM’S ANNUAL REPORT 2019 Revenue share Number of high-speed access of content and points installed in small communities digital services under the BDD project Rostelecom Today PJSC ROSTELECOM’S ANNUAL REPORT 2019 1. ROSTELECOM TODAY Rostelecom 1 Today • The Company’s plans to have equity inter- governing the Russian telecommunications ests in other businesses. industry, and activities related to place- 2019 — delivering on digital • The Company’s plans for network con- ment and
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