Investor Presentaiton

Rostelecom 2 Mobile Data - Leveraging country-wide presence to provide full-scale mobile operations Mobile Data users in Russia- by type of devices Key terms of Rostelecom 4G auction lot Smartphones 24% 2G internet users Trends • Growth in smart Spectrum allocated Number of regions to cover 01.12.2013 5 Mobile phones 54% in 2011 with 15 mln forecasted in 2013) 791-798,5/832-839,5 phone sales (8.5 mln 727,5-735768,5-776 2560-2570/2680-2690 01.12.2014 10 01.12.2015 20 30.11.2016 30 30.11.2017 50 30.11.2018 60 30.11.2019 all areas USB modems 21% 3G-tables 1% Source: J'son Consulting, 2011, by subs 3G network development 27 regions with expected completion in 2012-2013 3G licences coverage Source: Company information 16 www.rostelecom.ru • Stable sales of USB modems (13.5 mln in 2011 with 13 mln. in 2013) Greenfield regions • Moscow and • region St-Petersburg and region + commitment to invest Rub 15 bln per year (includes refarming cost). Capital expenditure by segment (2011-2015) 2011 breakdown Other 12% IT 7% Mobile 20% 2011-2015 CAPEX = 20% of Sales Mobile 25% Back- bone 24% • Krasnodar region • Samara region ⚫ Novosibirsk Last mile 36% Last mile 30% region 2011 Backbone 11% Other 27% IT 7% Total CAPEX RUB 82.8 bln CAPEX / Sales 28.0% Source: Company information Note: % of total CAPEX spent during 2011-2015

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