Ad-Hoc Notice

Moscow, 03 November 2020 - Sistema PJSFC (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company, notes the announcement by its portfolio company Ozon that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of American Depositary Shares ("ADSs") representing ordinary shares of Ozon Holdings PLC.

Please see the link to Ozon's announcement https://corporate.ozon.ru/tpost/231j407df1-ozon-files-registration-statement-for-pr.

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Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2019 was RUB 656.9 billion; total assets equalled RUB 1.3 trn as of 31 December 2019. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended. A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to and describing the terms of the proposed offering may be obtained from any of the sources set out in the Ozon announcement.

For further information, please visit www.sistema.ru or contact: