Net Element Appoints Roman Shakirov CFO

6/21/16

Net Element, Inc. (NASDAQ: NETE), a provider of global mobile payment technology solutions and value-added transactional services, announced today that Roman Shakirov has been appointed the Chief Financial Officer of Net Element Russia and emerging markets. Mr. Shakirov is a highly experienced financial professional with over 13 years of experience in finance and management. He brings to the Company his extensive background in corporate finance, treasury, financial planning and analysis, tax, strategic planning and risk management.

Prior to joining Net Element, Mr. Shakirov held senior positions at several leading multinational companies, including: Cherkizovo Group (LSE: CHE) (MCX: CHEP); Gallery Group; Ernst & Young and Grant Thornton. Mr. Shakirov's education includes an advanced degree from the Finance Academy under the Government of the Russian Federation with a specialization in Taxation. Mr. Shakirov led implementation of SAP ERP at Cherkizovo Group, and during his leadership, Cherkizovo Group was declared a winner of the prestigious Annual National IT Leader 2015 Prize for its outstanding contribution to the growth of the IT industry in Russia. Based in Moscow, Russia, Mr. Shakirov will work closely with the leadership teams of all Net Element Emerging Market's business units, including PayOnline and Digital Provider.

"I am pleased to welcome Roman Shakirov as CFO of Net Element Russia and emerging markets. His proven leadership skills and experience in IFRS and GAAP accounting will be a valuable resource to the company," commented Oleg Firer, CEO of Net Element. "We look forward to seeing Roman contribute to the continued growth and success of our company in CIS and selected emerging markets."

"I can't imagine a more exciting time to join Net Element," commented Roman Shakirov. "Net Element is focused on powering global commerce and making a difference in digital payments in emerging markets and I am delighted to be a part of this growing company."

Mr. Shakirov will lead Net Element Russia and emerging market financial operations and regional finance teams. He will report directly to Jonathan New, CFO of Net Element, Inc.

About Net Element

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise ("SME") in the US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element's strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

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