Investor Presentaiton

Transformation of Revenue Structure ■ Broadband 21% 28% ■ Pay TV ■ VPN ■ VAS&Clouds ■ Telephony ■ Other Content & Digital Services -40% 22% 25% 6% 7% 21% 6% 33% 2015E 7% 16% 10% Rostelecom -60% 2020F 11

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