Investor Presentaiton

5 Rostelecom Rostelecom at a Glance Key state interest in telecom industry Unique infrastructure Rostelecom networks and services cover all Federal districts of Russia, including Moscow - Strong subscriber base - 500,000 km of national backbone and unique "list mile” infrastructure with over 33 mln households passed - ~27.51 mln fixed - line subs, ~ 8.91 mln broadband subs, ~ 6.41 mln pay-TV subs and 13.52 mln mobile voice subs Positive Financial Results Revenue 2011 RUR 296.0 bln OIBDA 2011 RUR 117.7 bln OIBDA margin 2011: 39.8% Net Income 2011 Revenue: High Single Digit CAGR Strategic Goals 2015 OIBDA margin around 40% Clear Ownership Structure Listing www.rostelecom.ru : RUR 46.1 bln Cash CAPEX 2011: RUR 82.8 bln Net debt 30.09.2012 RUR 197.6 bln CAPEX: average 20% of revenues for the period 2011-2015 Government controls > 55% of ord. shares Treasury shares: ~5% of ordinary shares and ~13% of preferred shares Other shareholders ~ 40% of ordinary shares - Currently traded on MICEX-RTS. LSE listing is planned in the near future On September 01, 2011 Rostelecom was included in MSCI Large Cap. Current weight in MSCI Russia of 2.19%3 1- As at September 30, 2012 2- including SkyLink, acquired in 3Q 2012 3-As at August 30, 2012

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