Investor Presentaiton

MTS a step ahead -2% stable -11% Ukraine operating indicators +6% Messaging Revenue 452 478 253 245 238 228 223 225 (UAH mln) Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 +1% +9% -4% H1 2011 H1 2012 +11% Data Traffic 363 326 185 Revenue 177 179 178 162 164 (UAH mln) Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 -4% -2% -9% 7 stable Data Content Revenue (UAH mln) 271 270 162 138 132 136 141 129 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 Total VAS (UAH mln) 619 614 654 687 691 648 1 233 1 339 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2011 H1 2011 H1 2012 *Messaging revenue in Q1 2012 included recognition of the revenues from the services ordered in 2011, normalized for this one-off, messaging revenue is in line with the seasonal trends ■ Decline in messaging attributable to seasonality* Data traffic growth driven year-over-year by sales of CDMA-based modems Content revenues lower due to pull-back on promotions Key initiatives in Q2 2012: - Launch of EuroGOOD'OK 2012 service for the period of Euro 2012 football championship - Launch of a new Internet bundle - 300 Mb for UAH 50 for 30 days 22 22

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