Investor Presentaiton

Emerald Hills September 2016 Moscow region Total NSA 859 ths sqm Open Market Value* RUB 17,866 mln *JLL estimate as of 31.12.2015 December 2015 Income from sales* RUB 63,905 mln Etalon Group Operating Results Landbank Valuation Financial Results Selected Projects Appendix 26

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