Holding Statement

Mail.Ru Group Limited

Holding Statement

16 November 2016. Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as "the Company" or "the Group"), one of the largest Internet companies in the Russian-speaking Internet market, notes today's press speculation and confirms that it is discussing potential commercial collaboration with PJSC MegaFon (LSE: MFON) to jointly develop new products and services aimed at mobile subscribers and Internet users in the companies' home market. Market dynamics and advances in technology have created favorable conditions for greater cooperation between telecom providers and digital media companies. As leaders in their respective industries, MegaFon and Mail.Ru Group are natural partners for such cooperation and have been exploring multiple commercial projects aimed at creating strategic and economic value for both companies. Any agreements between the companies would be on an arms-length and fully commercial basis.

Mail.Ru Group confirms it is not involved in any discussions of any potential merger with MegaFon. Mail.Ru Group cannot comment on any shareholder transactions. 

For Further Information Please Contact:

Investors

Matthew Hammond

Phone: +971 505 56 1315

E-mail: [email protected]

Press

Madina Tayupova

Phone: +7 926 510 50 21

E-mail: [email protected]

About Mail.Ru Group

Mail.Ru Group (LSE:MAIL, listed since November 5, 2010) is a leading company in the Russian-speaking Internet markets (Russia is Europe's largest Internet market measured by the number of users, comScore). Mail.Ru Group's sites reach approximately 93% of Russian Internet users on a monthly basis (comScore, June 2016).

In line with the 'communitainment' (communication plus entertainment) strategy, the Company is building an integrated communications and entertainment platform. The Company owns Russia's leading email service and one of Russia's largest internet portal, Mail.Ru (TNS, all Russia, age 12-64, June 2016). The Company operates the three largest Russian language social networks, VKontakte (VK), Odnoklassniki (OK) and Moi Mir (My World), and Russia's largest online games business (including such gaming titles as Warface, Armored Warfare, Skyforge and Perfect World). The Company also includes a leading OpenStreetMap-based offline mobile maps and navigation service MAPS.ME, two instant messaging (IM) services, Mail.Ru Agent and ICQ, which are popular in Russia and Commonwealth of Independent States (CIS), and other products.