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By attending the meeting where this presentation is made or by accepting a copy of this presentation, you agree to be bound by the foregoing limitations and to maintain absolute confidentiality regarding the information disclosed in this presentation. 2#3Presenting Team G-Globaltruck Alexander Eliseev CEO and Controlling Shareholder Denis Lesnykh Member of the Board of Directors, CFO 3#4GGlobaltruck at Glance Leading Russian Full Truck Load ("FTL") trucking group[1] Top player in a Blue-Chip customer segment Contribution to Transportation Revenue 1H 2018 2 Other METRO 3% 5% Other Logistics 3% FM>LOGISTIC 1% 11% In Urals, Siberia and Far East[2] #2 in Russia[2] DB SCHENKER1% XPOLogistics1% Other E-Commerce 3% & Parcel 4% CDEK 2% 14% 22% DPD 12% Modern fleet and infrastructure as of 2018 year end 22% 1,363 Trucks with an average age of 2.6 years 1,481 Trailers (tents and refrigerators) 6 Certified service centers Track record of growth Revenue CAGR 2015 - 1H 2018 14.9% Notes: [1] MegaResearch data for 2016 (by average fleet size). [2] Excluding captive truck fleet. GTD 5% ПЭК 9% GGlobaltruck IKEA 3% O'KEY 2% Detsky MIR 2% X5RETAILGROUP 2% OBI 1% MATHHT 1% 3% Other Retail 2% KATPEH 2% PROTEK 20% 2% Unilever 19% 2% Henkel 2% MAKFA 1% FERRERO 1% ROCHER 1% P&G Nestle 7% Procter & Gamble Other Consumer Other MIB 13% 2% 2% UMMC RMK 1% 1% EEVRAZ M Retail Consumer E-commerce & Parcel Key financials for 1H 2018 Manufacturing, Industry and Bulk Logistics Other Revenue 3,593 RUB mln EBITDA 549 RUB mln Net debt/ LTM EBITDA 2.64x 4#5Efficient and Scalable Business Model St. Petersburg Moscow GTL 133 Cheboksary Perm 23 83 3 Samara 59 Ufa 59 URAL FEDERAL DISTRICT Ekaterinburg LORRY 407 Tyumen Magnitogorsk MAGNA 177 8 × SIBERIAN FEDERAL 9 * 21 2 DISTRICT Chelyabinsk 45 Omsk 89 3 × HQ of operating companies Hubs # of trucks [1] Novosibirsk LONGRUN 267 7 × G-Globaltruck Main trucking routes Source: Company information Notes: [1] As of year end 2018 Truck service center capacity in trucks serviced simultaneously Diverse End Market Exposure Ensures Business Resilience and Participation in Key Growth Trends 5#6Stabilizing Market Environment with Positive Outlook for 2019 Dynamics of diesel retail price[1] and diesel export net-back (RUB/litre) 50 45 40 40 30 30 35 35 25 20 GGlobaltruck 15 Jun 16 Oct 16 Feb 17 Jun 17 Average diesel retail price in Russia Oct 17 Feb 18 Jun 18 Oct 18 Feb 19 Diesel export net-back Growing domestic diesel prices created additional impact on economics of entire transportation market in Russia, but for 2019 the tariff growth is expected to be above the diesel price growth. On the back of higher discounts in March 2019 the actual diesel prices paid by the Company went down to the level of November 2018 ■ To stabilize the market, the government introduced additional regulatory measures to keep the fuel prices in check - all major fuel refiners agreed on a temporary price freeze. As the result fuel prices are not expected to grow above inflation rate throughout 2019 ■ Current balance of supply and demand for FTL transportation services does not allow for an immediate transfer of fuel price increases onto the clients through tariff growth, however, we expect margins and returns to gradually recover in mid-term through capacity optimization resulting in further tariff increases and possible reversal of macroeconomic conditions ■ We maintain positive outlook for 2019, as GT will aim to capitalize on its strategic initiatives, such as focus on higher tariff yielding international routes, and China in particular, light asset model and freight forwarding, as well as expanding the highly marginal Cargo Pipeline Source: Petroplus, Bloomberg Notes: [1] Average retail diesel price in Russia, based on Petroplus survey of 13,000 fuel stations in Russia. 6#7Operational Efficiency and Strategic Initiatives Tariff increases ■ Cargo Pipeline Light asset model International expansion ■ Government has implemented a range of measures to freeze diesel prices and to stabilize the market G-Globaltruck We believe GT shall be well positioned to revisit tariff rates with the clients and fully transfer the fuel price increase in the mid term As the result we anticipate a positive spread in 2019 between growing tariff rates and stabilized fuel price Launched in 2017, Cargo Pipeline is a highly successful project which continues to deliver active growth and solid results per truck 2x revenue ■ ■ Planned expansion from 49 to 100-150 trucks and addition of new routes by end of 2019, Given the build up of truck overcapacity in the market, the light asset model allows us to leverage our key competitive strengths and significantly enhance return on capital and profitability of the business We aim to significantly boost share of light asset model in our revenue portfolio, targeting up to 20-30% by the end of 2019 ■ • In the current market environment returns on international routes are significantly higher than returns on domestic routes. They provide a degree of business diversification and decrease exposure to FX risks We target to significantly expand share of international routes Continued expansion of E-commerce and Parcel segment Superior truck utilization levels and strong unit operating margins per km Freeze on driver wages In 2018 we achieved 12% lower expenditure on spare parts, repairs and maintenance due to reduced truck fleet age and expect further gains as we continue to renew the fleet in 2019 Corporate discounts on fuel purchases Improving fuel consumption: IQ-Freeze equipment on all refs allowing to save 0.6 liters of fuel per driving hour New IT algorithms, which will automatically route trucks to fuel stations with the cheapest diesel price ■ Growing efficiency ■ Fleet growth program optimization ■ Group's truck fleet in operation totaled 1,363 units as of 31 December 2018, which represents a 19.6% increase over 2018 Average age of fleet in operation improved from 3.4 to 2.6 years ■ Current focus shifted to replacement of trucks and renewal with possible further expansion for new high margins projects 7#8r CargoPipeline Kirov Growing CargoPipeline roundtrip network Perm reka Tavda reka Tura Tyumen GGlobaltruck Yaroslavl Ivanovo Vyatka River Yoshkar-Ola Vladimir Moscow Izhevsk Yekaterinburg Ishim Kazan Naberezhnye Chelny Kurgan Chelyabinsk Omsk Petropavl Ryazan Tula Saransk Ulyanovsk Onial Penza Oktyabrskiy Samara CargoPipeline superior performance 92% Loaded Run Ratio 99% 15,100 27,400 Globaltruck CargoPipeline Distance per Truck, km/month Kostanay Kokshetau Ob River T Novosibirsk Ob River ■Launched in October 2017 and is actively developing ■Network has grown to 5 regular routes Engaged truck fleet up 145% from 20 units in 2017 to 45 units in 2018 and plan to increase to 100-150 by the end of 2019 ■ The share of CargoPipeline is expected to increase from average 4% in 2018 to 14% by the end of 2019 in terms of mileage Up to 2x faster delivery Notes: [1] ETA between each exchange is provided for reference only, and can vary depending on route and/or other circumstances [2] There are roughly two driver relay points between semitrailer changes, the location of which may differ, and is provided on the map for illustrative purposes Barna More Mileage per truck per month 8#9Expansion into China Overview 8 June 2018 during President Putin official visit Russia and China signed a transnational agreement on road transportation ■ The agreement makes possible direct transportation routes from any city in Russia to any city in China providing parity of freight by each party within agreed volumes ■ Previous regime of one-off route permits abolished ■ In May 2018 Globaltruck made the first round-trip commercial delivery from Krasnodar in Russia to Dalian in China and return to Novosibirsk in Russia ■ Globaltruck is preparing to tap China freight market, and expects more deliveries to/from Dalian in 2019 Novosibirsk – Dalian first route - Any Russian city in the west Novosibirsk Barnaul Kazakhstan Krasnoyarsk Tashanta L Urumqi ELORRY GGlobaltra 06541 G-Globaltruck RUSSIA Ulan-Ude⚫ Chita ⚫ Kyakhta Ulan-Bator MONGOLIA Harbin CHINA Beijing. Tianjin Dalian MONKY 1010 1071 9#10logistic GGlobaltruck G GGlobaltruck II. Performance Highlights for 2018#11Operational Performance and Highlights of 2018 GGlobaltruck 3.6 3.6 3.4 2.6 (trucks) (mln km) 1,363 1140 17.2% 218.8 1142 Operated 1,140 182.7 186.7 Truck Loaded 155.1 Fleet 14.7% 1,245 Distance 1,097 1,085 951 2015 2016 2017 2018 Average EOP 2015 2016 2017 2018 Av age yrs Covered distance per truck/month (ths km) 2.4% 15.9 15.5 14.9 15.0 2015 2016 2017 2018 (%) 92.3% 0.3% p.p. 92.0% 91.7% Loaded run ratio 91.4% 2015 2016 2017 2018 Source: Company information, Operating results for 2018 Average Rate Average Rate (RUB per loaded km) 5.6% 33.8 31 32.0 27.6 2015 2016 2017 2018 International (RUB per loaded km) National 5.2% 32.9 31.3 39.5 13.2% 44.7 2017 2018 2017 2018 11#12Strong and Resilient Financial Track Record Strong revenue growth[1]... (RUB bn) ... limited pressure on EBITDA ... (RUB mn) G-Globaltruck CAGR 15.3% 6,177 6,638 4,991 553 668 703 +15.6% 21.9% 20.2% 19.2% 18.7% 15.3% 1,362 1,277 5,624 5,970 3,109 259 3,593 343 1,024 4,288 581 549 2,849 3,251 2015 2016 2017 1H 2017 Freight Forwarding & Other 1H 2018 2015 2016 Adj. EBITDA 2017 1H 2017 --Adj. EBITDA margin, % 1H 2018 ■Transportation . and decreasing cost of debt (RUB mn) 9.6% 3.6 11.0% 2.3 [1] 3,731 3,090 9.9% 9.6% 2.6 1.012] 3,065 1,299 2015 2016 2017 1H 2018 Net Debt O-Net Debt/EBITDA % Average interest rate Source: IFRS and Management accounts for 2015-1H 2018 Notes: [1] 2016 adjusted EBITDA excludes RUB 35.6 mn gain from the sale of real estate [2] 2017 adjusted EBITDA excludes RUB 55.7 mn expense on IPO ■ Comparison of 1H 2017 vs. 1H 2018 results Revenue grew faster than during 2017 and increased by 15.6% to RUB 3.6bn in 1H 2018, due to the growth of rates and truck fleet expansion In 1H 2018 we saw some exceptional cost inflation, which led to lower EBIDTA margins YoY: • Rising oil prices in combination with ruble depreciation led to dramatic fuel price increase in Russia in 1H 2018 ⚫In 2015 and 2016 salary growth was significantly below inflation due to market downturn and overall labor market situation, which was partially compensated by the company in 2H 2017 and 1H 2018 ■ We do not expect to further increase the truck fleet size in 2019 and will rather focus on CAPEX optimization and deleveraging 12#13logistic GGlobaltruck G GGlobaltruck III. Appendix#14Operating Units Key Milestones History of Evolution Into a Market Leader Russian Trucking Market Volume in tonnes-km (2013=100) 100% 100% 94% 95% 102% 105% GT Globaltruck Trucking Volume in tonnes-km(1) (2013=100) 100% 145% 171% 200% 204% 241% Average Number of Trucks (2) GGlobaltruck 1,245 1,097 1,085 951 854 663 412 320 20 20 1990s ■ Foundation of Lorry transportation company in Ekaterinburg 2000s Acquisition of Magna, based in Magnitogorsk 2012 2013 ■GT Globaltruck Limited (Cyprus) acquires Lorry and Magna ■ Mr. Eliseev becomes the controlling shareholder Accelerated growth through acquisition of new trucks Acquisition of Longrun Logistic LLC ("Longrun"), based in Novosibirsk 2014 ■ GTL established in Moscow ■ EUR 20m credit line issued by EBRD Acquisition of Quehenberger Russian operations (+30 trucks) 2015 Acquisition of Transsibural trucking company (asset deal: +130 tractors and +152 ref trailers) 2016 ■Russian holding company (JSC Globaltruck Management) established 2017 Cargo Pipeline company established to develop the new service of driver and truck polling (registered in July 2017) ■ Successful listing on Moscow Exchange 2018 Significant expansion in truck fleet in line with the Company growth strategy ELORRY MAGNA O O LONGRUN GTL Strong Track Record of Organic Growth on the Back of Selected Strategic Acquisitions Source: Company information, MegaResearch reports "Russian Trucking Market 2010-2015" and "Russian Trucking Market 2014-2016". Notes: (1) Assume average of 12 tonnes per truckload (2) Average number of trucks for the period. CargoPipeline Public Company 14#15Key Investment Highlights Established market leadership in a fragmented industry 2 2/3 of revenue from high growth retail, consumer and e-commerce G-Globaltruck 3 Strong customer value proposition and a loyal blue chip customer base GGlobaltruck 4 Industry-leading operational performance 5 Highly experienced management supported by strong corporate governance standards 6 Strong and resilient financial track record Building the National Champion in Russian FTL Market 15#16Highly Fragmented Industry Russian FTL Trucking Market is Highly Fragmented ... Market Share of Top-10 Players (Market Share by tkm for early 2017) 米 Source: MegaResearch. Notes: [1] Fleet size is 50-300 trucks. 16% I 25% 25% 30% 35% 40% 40% GGlobaltruck with number of Mid-size [1] Companies Decreasing Sharply Approximate Number of FTL Trucking Companies (units) 520 500 430 400 2013 2014 2015 2016 16#17Current Trends Favour Large Players Client Impact of Regulatory Changes Russian Transportation Companies by Fleet Size Platon (Electronic Toll Collection System) Tax Requirements Automatic Weight Control (AWC) Growing blue-chip client requirements Freight Forwarders % of Truck Operators # of Trucks 97.7% Outsourced Fleet Asset-Based Transportation Companies Key FTL Competitors 69,000 54,000 12,000 2.2% 0.1% No Trucks 1 - 50 Trucks 50 300 Trucks >300 Trucks 84% Freight Forwarders Small Players Medium Players Leaders X (do not qualify) Source: Company information, MegaResearch (Russian transportation companies by fleet size) as of 1H 2017. Notes: [1] Captive trucking fleet of Magnit retail chain. GGlobaltruck Commentary [1] МАГНИТ 9% 3% 2%G 1% Globaltruck Delko 1% Platon puts pressure on smaller companies who are constrained in passing such costs to customers Increasing tax compliance and transparency requirements, e.g. more stringent VAT administration Introduction of AWC system as additional cost factor for smaller companies with less stringent weight rules compliance International blue-chip clients are becoming more demanding with increasing requirements for faster delivery, better accounting and tax standards 17#18Established Market Leadership GGlobaltruck Market Leading FTL Trucking Player with 2nd Largest Fleet ... (Approx. Number of Trucks, Average 2016A) . and #1 FTL Trucking Company in the Urals and Siberia (Approx. Number of Trucks in the Urals and Siberia, average 2017) Деловые линии GGlobaltruck Delko и моноПОЛИЯ S 800 COOTRCNCGOT 1,097 [1] 1,000 1,000 1,800 GGlobaltruck 414 Деловые ЛИНИИ S ColTrancadTo 320 SPINCO Delko 200 Source: Company information, MegaResearch (top 5 Russian trucking companies, average fleet size in the Urals and Siberia). Notes: [1] Average number for 2017. 240 91811 18#192 Over 2/3 of Revenue from High Growth Retail, Consumer and E- Commerce G-Globaltruck Diverse End Market Exposure Ensures Business Resilience and Participation in Key Growth Trends Direct exposure to strong retail growth trajectory... Retail Chain Stores by Region[1] (# in k) ... and benefit from expanding e-Commerce sector Russian e-Commerce Market (RUB bn) 3.9 1H2018 Revenue[2] 2,041 CAGR 29.2% 3.1 1.1 Retail & Consumer E-Commerce & Parcel CAGR 14.2% 1,855 1,672 2.5 0.6 22% 1,479 0.4 1,286 1.8 42% 1.4 0.3 3,582 RUB bn 1,099 920 IN 2.8 2.5 2.1 1.5 1.2 2013 2014 2015 ■ Urals ■ Siberia 2016 2017 1H 2017 Transportation Revenue[3] 2016 2017E 2018E 2019E 2020E 2021E 2022E 1H 2018 Transportation Revenue[3] OCDEK 2,849 RUB mln 13% OCDEK DPD CTD DPD CTD ПЭК 22% 3,256 RUB mln Source: Company information (customer breakdown by industry), public company disclosure of Magnit, X5 Retail, Dixi, Lenta (retail chain stores by region). Notes: [1] Based on stores of Magnit, X5 Retail, Dixy and Lenta. [2] Revenue from transportation and freight forwarding only [3] Revenue excluding revenue from forwarding and other revenue 19#203 Strong Customer Value Proposition and a Loyal Blue Chip Customer Base Effective fulfilment of key customer requirements ... GGlobaltruck Results in High Customer Retention Rate[1] ... Capabilities Quality Capacity Large Fleet Guarantees Year-Round Capacity Availability (Retained Percentage of Top 30 Customers per Year) 100% 100% 100% 0% A "Just in Time" KPIs and Professional Handling of Orders Comprehensive Network and Refrigerated Services 2015 2016 ... and long-lasting client relationships [2] ... (Customer Split by Length of Relationship) 26.8% 7.3% 51.2% 2017 14.6% Top player in a blue-chip Customer Segment Consumer P&G Retail METRO IKEA Unilever спортмастер FERRERO Industry M MECHEL E-Commerce DPD TROPHY 1 - 2 Years 2- 5 Years > 5 Years < 1 Year with a low-concentrated customer base (Revenue Split by Client, 2017A) Other 48% Top 1 7% Top 2-10 30% DETSKY MIR PROTEK LENTA KATPEH Source: Company information SIBUR УГМК UMMC RUSSIAN COPPER COMPANY МЭК Notes: [1] Excluding customer relationship terminated by GT Globaltruck (e.g. due to uncompetitive rates, payment discipline or unsuitable customer profile). [2] As of 2017 Top 11-20 15% 20#214 Industry-Leading Operational Performance Covered Distance per Truck/Month [1] (ths km) Continued improvement of fleet utilization... Loaded Run Ratio 2.4% 15.9 15.5 14.9 15.0 2015 2016 2017 2018 (%) 92.3% 91.4% 91.7% EU 28 Average 87.5% (2) - - 2015 2016 ... underpinned by string operational set-up ... Certified 24/7 in-house Service & Maintenance Centres Homogenous, Interoperable Fleet G-Globaltruck 0.3% p.p. 92.0% 2017 2018 Strategically Positioned Hub Bases Qualified and Reliable Drivers ... and fully-integrated, advanced technology system ... Mobile App for Drivers New IT Solutions to Improve Efficiency Modern Equipment in the Trucks Potential for IT Integration with Key Customers Source: Company information, Eurostat (EU 28 average loaded ratio) Notes: [1] Based on FY 2017 management accounts [2] Average loaded ratio from 2014A to 2015A 21#225 Experienced Management Supported by Strong Corporate Governance Standards G-Globaltruck Corporate governance compliant with international standards supported... ...by highly qualified & experienced top management Previous Role Experience[2] Alexander Eliseev Andrey Gostyaev Management Free Float Alexander Eliseev CEO Chairman of Board of Directors 16+ 35.2% 11.7% 12.3% 40.8% Board of Directors Andrey Gostyaev Chairman of the Board of Directors Board of Directors with Nine Members (2 INEDs) Non-Executive Directors Anastasia Levashova Portfolio manager at Natalya Yakovleva Previously Partner at PWC Audit Andrey Atlanov CEO of Longrun 20+ CCO Artem Gomenyuk COO CEO of Magna 16+ Blackfriars AM Audit Committee (chaired by Independent Director) Remuneration and Nomination Committee (chaired by Independent Director) Galina Chepovskaya CEO of Lorry 15+ Deputy CEO Denis Lesnykh CFO Chief Financial Officer of GT Globaltruck 11+ Fully committed to transparency and best corporate governance practices ✓ Management with focus on creation of shareholder value Track record of the controlling shareholder in building market leading player in rail transportation industry with a successful IPO story and best-in-class corporate governance standards Valentin Shadrov CIO Federal Freight Company 11+ Source: Company information. Notes: [1] Other board members include executives of the Company - Alexander Eliseev(CEO), Denis Lesnykh (CFO), Elizaveta Markunina (Head of Legal) and representatives of RDIF - Tagir Sitdekov and Alexander Lobanov. [2] Years of relevant transportation and logistics industry experience. 22#236 Stable and Lean Cost Base Key operating cost items... (RUB bn) 103 178 218 Total 2,433 1,158 776 GGlobaltruck ■ Fuel ■ Drivers ■Road Charges ■ R&M Other [1] with strong emphasis on fuel cost control ... Deeper fuel price discount due to expansion of fleet Dispatchers select best routes and fuel stations with lowest price to minimize fuel expenditure Drivers are motivated by KPIs to drive in a safe and fuel efficient manner Training by Volvo and Scania on fuel efficient driving of trucks Some of the new contracts include a provision for transportation rate increase in the event of fuel prices growth above a certain threshold leading to stable COGS per truck supported by ... (RUB mn) 4.9 4.4 4.2 0.9 0.6 0.8 0.4 0.3 0.4 0.5 0.6 0.5 2.5 2.3 1.2 1.1 1.1 0.5 0.5 8.3 8:3 0.7 0.6 1.6 1.6 1.8 0.9 1.0 2015 2016 2017 1H 2017 1H 2018 ■Fuel ■Drivers ■Freight forwarding ■R&M[1] ■ Other Source: IFRS Financial Statements for 2015-2017 Notes: [1] Repairs and maintenance expenses and costs of used material and components ■ labor cost advantage and economies of scale Largest operational units located outside of Moscow and St. Petersburg regions that ensures lower salary costs Going forward we expect to grow salaries inline or below Russian inflation 23#24IPO Results and Share Price Performance GGlobaltruck Summary of the offering Share price performance and traded value since IPO Offering price RUB ■ P132 per share 180 mn RUB 40 Number of shares Up to 29.2 mn of ordinary shares (including over-allotment option) 160 140 30 132 Offering size ■ P3.85 bn / US$66 mn[1] 120 100 First trading date ■ November 3, 2017 80 20 20 60 40 110 Primary / secondary shares ■ 80% of the base offering size new shares, 20% of the base offering size - existing shares 20 0 L 0 Nov 17 Dec 17 Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Traded Value (rhs) GTRK share price (lhs) MICEX, rebased (lhs) IPO price Listing Listing of ordinary shares in the Level 2 of Moscow Stock Exchange IPO Allocation Structure Post-IPO Shareholder Structure Over- allotment option • Up to 10% of the base offering size provided by main shareholder (GT Globaltruck Limited) 27.3% RUB 0.78 bln Allocated to retail investors and management ■ Alexander Eliseev 22% 35% ■ Board Members and Management Offering to retail investors through Offering Moscow Stock Exchange structure " Offering in accordance with Regulation S RUB 3.85 bln equity sold RUB 3.07 bln Allocated to institutional investors 19% 72.7% Lock-up ■ 180 days for Company and shareholders ■ Primary Secondary incl. over-allotment Notes: [1] Central Bank of Russia exchange rate as of November 3, 2017 1US$=58.09P 24% ■RDIF and Sovereign Funds Other institutional and retail investors 24 24