MegaFon announces election of Gevork Vermishyan as CEO

Moscow, Russian Federation (14 November 2018) - Public Joint Stock Company "MegaFon" (MoEx: MFON), a pan-Russian operator of digital opportunities("MegaFon" or the "Company"), announces that at a General Shareholders Meeting held on 13 November 2018, the shareholders of MegaFon approved the recommendation of the Board of Directors that Gevork Vermishyan be appointed as the Company's Chief Executive Officer. The appointment is for a three-year term.

Mr Vermishian replaces Mr Sergey Soldatenkov, who announced in October that he was stepping down as CEO, as earlier reported at: https://corp.megafon.com/investors/news/capital_market_releases/20181011-0951.html.

Mr Vermishian commented as follows on his appointment: "I would like to thank the Board of Directors and the Company's shareholders for their trust in me. I intend to devote myself to the strengthening of MegaFon's positions as a leading market player, top employer in the digital innovation market and the best life-time partner to our clients. Our company has unique technologies, expertise and competences, and our task is to develop and improve them, so as to enable MegaFon to assert and maintain a leadership position in the digital future."

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For More Information:

PJSC MegaFon

Investors: Dmitry Kononov                               Tel: + 7 926 200 6490             dkononov@megafon.ru
Director for Investor Relations and M&A

Notes to Editors

MegaFon PJSC is a pan-Russian operator of digital opportunities, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru.

Cautionary Statement Regarding Forward Looking Statements

Some of the information in this document may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "forecast", "intend", "will", "could", "may", or "might" the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.