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Annual Report PRE-APPROVED APPROVED by the resolution of MTS PJSC Board of Directors by Annual General Meeting of Shareholders of MTS PJSC May 27, 2019, Minutes No. 283 June 27, 2019, Minutes No. 45 Disclaimer This Annual Report has been prepared by Mobile TeleSys- that may lead to material differences between the actual tems PJSC (the “Company”) solely for information purposes results and the assumptions contained in forward-looking and may contain forward-looking statements or forecasts. statements or forecasts, include general economic conditions Such statements or forecasts relate to the matters other prevailing in the markets in which the Company operates, than historical facts or statements, and reflect the Compa- competitive environment and risks associated with operating ny’s intentions, beliefs or current expectations concerning, in such markets, market change in the industry and related inter alia, performance results, financial condition, liquidity, industries, as well as other risks affecting the Company and its efficiency, prospects, growth rates, strategies of the Company activities. Moreover, even if the Company performance results, and industry in which it operates. Nature of the forward-look- financial condition and liquidity and the changes taking ing statements and forecasts implies risk and uncertainty, as place in the industry in which the Company operates comply they relate to events and depend on circumstances that may, with those set forth in the forward-looking statements or or may not arise in the future. The Company cautions that forecasts presented herein, those results or changes may not forward-looking statements and forecasts do not guarantee be illustrative of the results or changes in future periods. The future performance and that actual performance results, finan- Company does not undertake any obligation to review or con- cial condition and liquidity of the Company, as well as changes firm expectations or estimates, or update any forward-looking in the industry in which the Company operates may differ ma- statements or forecasts to reflect the events or circumstances terially from those stated or assumed in the forward-looking occurring or arising after the date of this report. statements or forecasts contained in this report. The factors Welcome to the MTS PJSC 2018 Annual Report! We would like to bring to your attention the Annual Annual Report Preparation Standards Report of MTS PJSC following the results of 2018. The report has been prepared in accordance with the This is the 18th report in succession—we are preparing requirements of the legislation of the Russian Federa- them for you, starting from 2001. tion and regulators’ requirements applicable to MTS, and also in accordance with the Russian and interna- tional standards and practices in the field of public Purpose of the 2018 Annual Report annual reporting. In the provided Report we disclose the consolidated information about the main results of Company’s Annual Report Structure business in accordance with its strategic goals and objectives for short-term, medium-term and long-term. The report comprises four main sections: The annual reporting tool provides an opportunity for 1. About the Company, MTS to comply with the high level of openness and transparency, including ability to inform our investors 2. Management Report, and shareholders, and also customers on cutting-edge 3. Corporate Governance, solutions and services, which the Company introduces into management processes and product lines. 4. Sustainable Development. MTS is an innovative and continuously developing Company, which makes for more convenient, vibrant Strategically-Oriented Report and brighter life. The report is focused on the strategic vision of Compa- We want to tell you about this. ny management, results and key aspects of MTS busi- ness in accordance with the strategy. Special attention is paid to completeness and quality of forecast/expert information on macroeconomics, regional markets of telecommunications providers. here to Find More Info The annual report is available online (interactive version), in the app for iPad, and also in PDF format and W as a printed version in Russian and English. Online version (interactive): https://moskva.mts.ru/about/investoram-i-akcioneram/korporativnoe-upravlenie/raskritie-informacii/ godovaya-otchetnost iPad App: https://itunes.apple.com/ru/app/godovaa-otcetnost-gruppy-mts/id919440557?mt=8 Besides, MTS publishes Sustainable Development Reports annually https://moskva.mts.ru/about/mts-dlya-obshhestva/novosti-i-otcheti/otchet-ustoychivogo-razvitiya bout MTS1 ontents ADear friends, C We are working in the telecommunications industry Our goal is to make sure that MTS customers could use which is strategic for the country development and the opportunities offered by modern mobile technolo- indispensable for resolving a wide range of everyday gy in full, while not limiting themselves in communica- and business tasks of any person. All kinds of services tion. A highly professional MTS team implements new rendered by MTS, such as mobile and fixed-line teleph- ideas and projects daily so that our customers in any ony, Internet access, have long been firmly established region and of any income could use communication in the “consumer basket” of every Russian. services as much as they want and like not bearing any unforeseen costs. Our work is aimed not only at rendering high-quality, beneficial and convenient services to the customers, Join MTS, stay with us for many years and you will as well as ensuring high service level, but we are also always be one step ahead: we know, understand and constantly looking ahead, improving our offer and appreciate you striving to anticipate your expectations! launching advanced services. Today our subscribers can quickly find the right information in the Internet, go shopping, pay for travels, buy tickets for concerts and movies, manage their finances and make many other Yours faithfully, useful and interesting things with the help of a mobile Alexey Kornya, phone. We consider this only the beginning and are MTS President planning for further progress! ompany’s Mission and Strategy More detailed information C https://moskva.mts.ru/about/informaciya-o-mts/mts-v-rossii-i-v-mire/o-kompanii/missiya-i-strategiya 1 In this Annual Report, the terms “MTS,” the “Company,” and the “Group” shall refer to the group of companies consisting of MTS PJSC and its subsidiaries; MTS PJSC shall mean Mobile TeleSystems Public Joint Stock Company. The indicators contained in this Annual Report are as of December 31, 2018, unless other periods or dates are expressly indicated. ontents C1. About the Company 4. Sustainable development MTS Group Today 6 Our Approach to Sustainable Development/ Social Responsibility 230 Expanding Beyond Connectivity 8 Our Employees 244 Main Outcomes for 2018 10 Social Investments 255 Key Events in 2018 12 Information Protection and Security 267 Message of the Board of Directors Chairman 14 2. Management Report 5. Additional Information History of the Company 274 Message of the President 18 Report on fulfilment of the principles MTS Business Model: the Source of Your and recommendations of the Corporate Dividends 20 Governance Code 276 Our markets 22 Main Specifications of Personnel and Looking into the Future 28 Personnel Management System Indicators 307 MTS Innovation Center 32 Glossary 312 Our Strategy 36 Contacts and Additional Information about the Company 314 Business Overview 48 Financial Overview 68 Risk Management 90 Compliance and Culture of Good Faith Behavior 102 3. Corporate Governance Report of the Board of Directors 114 Interaction with Shareholders and Investors 117 Our achievements 123 MTS Group Governance System 124 Management of MTS Group Subsidiaries 206 Internal Control and Audit 211 Capital and securities 218 Corporate Governance Development 225 3 MTS Group Today >65 thousand 5800 employees MTS outlets and around 100 offices of MTS Bank 105 mln >220 thousand km subscribers optic fiber lines, the first 4.9G gigabit networks were launched, 5G is being tested 6 50 regions of Russia 12.6 bln RUB Internet of Things — volume of cash loans networks NB-IоТ granted on the basis MTS are launched in of Big Data in MTS Bank 50 regions 3.5 bln RUB 13 regions of Russia — cumulative effect Within agreements with from the use of Big Data regional authorities, for two years MTS participates in “smart cities” projects in 13 regions of Russia 7 xpanding Beyond EConnectivity Cloud Big Data • >600 #CloudMTS clients • Custom Big Data solution for MTS Retail Workforce Management • 10 data centers • Acceleration of credit issuance and scoring • 7x increase of stored and processed data within #CloudMTS in 2018 • >200 data scientists & engineers • Latest acquisitions: Avantage, IT-Grad AI System Integration • >70% of customer requests via the MTS website are • + 50% LTM revenue growth resolved purely by chat-bot • Launched Industrial IoT pilot projects in 2019 in • >75% accuracy of MTS’s Legal Tech algorithm automation, analytics, machine vision • >40% y-o-y increase in # of deals in Q1 2019 FinTech E-Health • 4x growth in X-selling of MTS Bank services in 2018 • Telemedicine platform for remote doctor consultation • Integration of MTS Bank’s most popular products into the MyMTS app • 10 types of medical specialists 8 Expanding Beyond Connectivity Retail NB-IoT • +31% LTM revenue growth • >50 regions in Russia with MTS NB-IoT coverage • Market share increase from 10% to ≈13% in 2018 • Smart City agreements signed with municipalities in 13 Russian regions • 63% tNPS TV Smart Education • A market leader in adds with ≈70,000 new subscrib- • Face-to-face online training ers per quarter • ≈50% average monthly growth in registered users • 200 TV channels • More than 4 million mobile TV users ESports & e-ticketing • WASD.TV streaming platform launched in March 2019 • Achieved incremental revenue growth via business synergies in ticket X-selling 9 ain Outcomes for 2018 In 2018 MTS Group demonstrated high financial results. gic steps were made to establish a digital ecosystem for MThe Company has advanced significantly on the way of the customers.
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