Results for January – March 2018

Almaty, 20 April 2018 – Kcell Joint Stock Company (“Kcell” or the “Company”) (LSE, KASE: KCEL),
the leading provider of mobile telecommunications services in Kazakhstan by market share in terms
of revenue and subscribers, announces its interim results for January – March 2018.

First quarter

  1. Net sales increased by 2.1 percent to
    KZT 36,386 million (35,632). Service revenue down 1.6 percent to KZT 32,267 million (32,797).
  2. EBITDA, excluding non-recurring items, increased by 1.5 percent to KZT 13,456 million (13,260). The EBITDA margin was stable at
    0 percent (37.2)
  3. Operating income, excluding non-recurring items, down 5.0 percent to KZT 7,246 million (7,630).
  4. Net finance cost and other financial items decreased to KZT 2,315 million (2,683).
  5. Net income decreased by 5.0 percent to
    KZT 3,752 million (3,951).
  6. CAPEX-to-sales ratio of 7.6 percent (16.6).
  7. Free cash flow decreased to KZT 1,503 million (1,748).
  8. During the quarter, the subscriber base remained stable at 9,958 thousand (9,979).

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