Rostelecom extends derivative agreement with Deutsche Bank

Moscow, Russia – August 6th, 2015 – Rostelecom PJSC (“the Company”) (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, announces that Rostelecom’s Board of Directors has approved the extension of a derivative agreement with Deutsche Bank.

The agreement, which was originally signed in October 2013 as part of the deal which saw Deutsche Bank acquire 1.35% of Rostelecom ordinary shares, provides Rostelecom and Deutsche Bank with call and put options that entitles the Company to a portion of an increase in share value, and protects Deutsche Bank in the event of a decrease in share price. The agreement has been extended to December1^st, 2017.