Investor Presentaiton

MTS a step ahead Total Group Revenue Group financial highlights: Revenue and OIBDA +7% stable +4% +1% 6 062.2 6 136.0 3 274.7 3 128.3 3 122.2 2 934.0 2 981.7 3 013.8 (USD mln) Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 Total Group Adjusted OIBDA* (USD mln) +16% +5% +9% +8% 2 428.5 2 632.7 1 302.7 1 439.9 1 125.8 1 275.6 1 259.1 1 373.6 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 Adjusted OIBDA margin 38.4% 41.6% 44.0% 42.8% 41.8% 44.0% 40.1% 42.9% Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 ■ Quarter-over-quarter revenue growth due to positive seasonality and overall increased consumption of voice and data products ■ Year-over-year revenue dynamics impacted by negative local currency volatility vs. US dollar in all markets of operation ■ Strong year-over-year OIBDA improvement as a result of operating expenses optimization, improvement in interconnect balance and growth in high-margin data revenues *Adjusted OIBDA represents operating income before depreciation and amortization, impairment of long-lived and other assets and tax and antimonopoly claims in Uzbekistan. For further information, please see the Appendix for definitions and reconciliations 5

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