Retirements and appointments

The board of directors of Sistema may include Anatoly Chubais, head of Rosnano, Etienne Schneider, former Luxembourg deputy prime minister, and Vladimir Chirakhov, who has been president of the company since April. If the shareholders approve this decision, the Board of Directors will be expanded from 11 to 12 people. The Annual Meeting of Shareholders, which will approve the Board of Directors, will be held on June 27.