Investor Presentaiton

Convergence and Contributions from Additional Markets Mitigate Revenue Pressure In EUR mn 4.651 4.2% + 0.5% clean* Austria FY 2011: EUR 2,942.1 mn; -4.0% yoy -122 Bulgaria FY 2011: EUR 527.6 mn; -6.5% yoy Croatia FY 2011: EUR 420.7 mn; -6.9% yoy -37 -31 Additional Markets FY 2011: EUR 396.mn; +23.5% yoy Belarus FY 2011: EUR 260.9 mn; -24.1% yoy.... 18 -83 38 19 4.455 FY 2010 Austria Bulgaria Croatia Belarus Slovenia Republic of Republic of Liechtenstein Eliminations Corporates, Serbia Macedonia Eliminatios, Others FY 2011 * Without effects of hyperinflation Belarus 9

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