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Investor Presentaiton

MTS a step ahead +9% +7% +8% +7% Ukraine financial highlights Total 4 294 4 616 Ukraine 2 057 2 237 2 498 2 312 2 218 2 398 Revenue (UAH mln) Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 H1 2012 H1 2012 49.9% H1 2012 ■ Year-over-year revenue performance reflective of usage increase and greater contribution from guest roaming revenues due to Euro 2012 football championship held in Ukraine OIBDA growth outpaces revenue dynamic due to cost discipline and rational competition OIBDA margin growth in Q2 2012 impacted by a one-off reserve correction related to interconnect settlements in the amount of UAH 48.1 mln +18% Total +15% +17% +15% 2 303 Ukraine 2002 1 221 1 083 1 147 1 243 1 060 OIBDA 919 (UAH mln) Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 H1 2011 OIBDA margin 44.7% 48.4% 48.9% 49.6% Q1 2011 Q2 2011 Q3 2011 Q4 2011 47.8% Q1 2012 51.9% 46.6% Q2 2012 H1 2011 20
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