NCR Reaffirms MTS’s AAA.ru Rating, With Stable Outlook

MOSCOW, Russia – Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (MOEX: MTSS), a digital ecosystem, announces that the Russian rating agency National Credit Ratings LLC (NCR) has reaffirmed the credit rating for the Company and its bonds at AAA.ru (the highest level of creditworthiness), with a stable outlook.

The Company’s credit rating was affirmed based on the following factors:

• MTS’s business profile is associated with a low market risk thanks to the stability of the Company’s key markets of operations (provision of telecommunication services) and their moderate growth potential.
• The Company’s markets of operations in Russia are marked by a wide-ranging geographical footprint and a stable client base: MTS’s services are used by a significant portion of Russian households and companies in various sectors of the economy.
• Factors supporting NCR’s assessment of MTS’s financial profile included the Company’s moderate level of debt and debt service cushion, robust operating margins as well as its sufficient liquidity.
• Low shareholder risks and a positive assessment of the quality of the Company’s corporate governance further supported MTS’s standalone credit assessment.

NCR also affirmed the credit ratings of 13 issues of MTS bonds.
In December 2024, the rating agencies ACRA and Expert RA also reaffirmed the Company’s top credit ratings.

“Since MTS has always had a highly diversified business, it has been able, through its ecosystem, to respond to external challenges in a flexible manner and adapt its asset portfolio in a meaningful way. The Company boasts high operating margins and sufficient liquidity to meet its obligations to shareholders and bolster its leading positions in its core markets. All of this was reflected in NCR’s high rating and in the reaffirmation of the highest credits ratings by ACRA and Expert RA in December 2024,” said Alexander Smirnov, Director of the Corporate Finance and Treasury Department at MTS.

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For further information, please contact in Moscow:
Investor Relations Department
Mobile TeleSystems Public Joint Stock Company
Tel: +7 495 223 2025
E-mail: ir@mts.ru