Investor Presentaiton

Strategic vertical integration: control over costs, quality and timing Etalon Group operates in every part of property development process Land Acquisition & Permits Design Effective Capital Recycling Control over costs, quality & timely delivery of the projects Construction Materials Construction Contracting & Commissioning Tower Cranes Construction Independence from Funding suppliers, but only in crucial areas | I I Sales & Marketing Ongoing Maintenance & Service G Business stability and lower risk of counterparties' dependence Understanding of customer needs (sales network throughout the country) (1)Brick plant and concrete products plant. Own production only for "bottleneck" construction materials (2)38 Liebherr tower cranes (of which 37 were manufactured in 2006-2008). Data as of 31.12.2010 (3) Construction to third parties Etalon Group 033

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