OREANDA-NEWS. On 15 June 2016, Dega Retail Holding Limited (the “Offeror”) launched an offer on behalf, and at the instruction, of Mobile TeleSystems Public Joint Stock Company (the “Company”) to the holders of the outstanding U.S.$750,000,000 8.625 per cent. Loan Participation Notes due 2020 (the “Notes”) issued by, but with limited recourse to, MTS International Funding Limited (the “Issuer”) for the sole purpose of financing a loan to the Company, to tender any and all of the outstanding Notes for purchase by the Offeror for cash (the “Tender Offer”), subject to the terms and conditions set out in the Tender Offer Memorandum dated 15 June 2016 (the “Tender Offer Memorandum”) prepared by the Offeror. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Offeror hereby informs Noteholders that as at 5:00 p.m. (NYC time) on 23 June 2016 (the “Expiration Deadline”) the aggregate principal amount of Notes validly tendered pursuant to the Tender Offer and accepted for purchase by the Offeror is as follows:

Description of the Notes ISIN /
Common Code		 Purchase Price Aggregate Principal Amount of Notes Accepted for Purchase Principal Amount of Notes Outstanding following settlement of the Tender Offer1
U.S.$750,000,000 8.625% Loan Participation Notes due 2020 issued by, but with limited recourse to, MTS International Funding Limited for the sole purpose of financing a loan to Mobile TeleSystems Public Joint Stock Company Rule 144A Notes: US55377WAA62 / 052029449
Regulation S Notes: XS0513723873 / 051372387		 U.S.$1,175.00

per U.S.$1,000 in principal amount of Notes

 U.S.$267,440,000 U.S.$306,886,000


1Notes that are currently held by the Company and/or its subsidiaries are not considered “outstanding” for purposes of this table.

Payment Date

Subject to the conditions described in the Tender Offer Memorandum, the Offeror will pay to the relevant Noteholders on or before 28 June 2016 (the “Payment Date”) (a) the Purchase Price for the validly tendered and accepted Notes, and (b) the Accrued Interest Amount from (and including) the immediately preceding interest payment date for the Notes to (but excluding) the Payment Date.

The Tender Offer has now expired and no further Notes can be tendered for purchase.

The Notes purchased pursuant to the Tender Offer will be held by the Offeror for its own account. Notes that have not been successfully tendered for purchase and accepted by the Offeror pursuant to the Tender Offer and the terms and conditions set out in the Tender Offer Memorandum will remain outstanding and will remain subject to the terms and conditions of such Notes.