Investor Presentaiton

MTS a step ahead stable +21% +15% ARPU (USD) 4.7 3.9 3.9 3.8 3.9 4.1 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 +3% +33% +18% MOU (min) 553 402 416 421 440 468 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Subs, mln 9.1 9.4 10.0 9.3 9.5 9.0 Churn rate, % 9.2% 6.9% 9.3% 20.2% 11.9% 19.1% SAC 7.4 7.7 6.5 5.6 6.1 4.7 APPM 0.01 0.01 0.01 0.01 0.01 0.01 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Uzbekistan operating indicators ■ Year-over-year ARPU dynamics reflective of an increase in data revenues, introduction of fixed monthly subscriber fees and an overall increase in voice usage ■ Strong year-over-year MOU growth as a result of activities to stimulate on-net calling 24 24

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