SSA.L Regulatory News (SSA)

Sistema announces decisions of the Board of Directors

Moscow, Russia - 1 April 2019 - Sistema PJSFC ("Sistema" or the "Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces the decisions taken at the meeting of its Board of Directors held on 29 March 2019.

Sistema's Board of Directors decided to convene the annual general meeting of shareholders (AGM) on 29 June 2019. The record date for eligibility to participate in the meeting is 4 June 2019. Information on the agenda items for the AGM will be published in due course in compliance with Sistema's Charter.

The Board of Directors recommended that the AGM approves a dividend for the 2018 financial year of RUB 1,061.5 million, representing a payment of RUB 0.11 per ordinary share (RUB 2.2 per GDR). Taking into account the priority of the strategic goal to reduce the Corporation's debt, and the size of the dividend in relation to the Corporation's cash inflow, the Board of Directors supported management's proposal to deviate from the Corporation's current dividend policy.

The Board of Directors recommended to the AGM to set 18 July 2019 as the dividend record date.

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Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers in such sectors as telecommunications, retail, paper and packaging, agriculture, high technology, banking, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Its revenue in 2017 reached RUB 704.6 billion; its total assets equaled RUB 1.1 trillion as of 31 December 2017. Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange.

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