Investor Presentaiton

5 Year programme based on existing land bank Sufficient land bank to increase deliveries 2x by 2012 and 4x by 2014 Projects scheduled for delivery in 2012 1200 IPO proceeds I I Project 1 Etude NSA, sqm 22,784 1000 2 Prestige 21,404 800 836 810 830 3 Jubilee Estate 78A building 2, 5 96,235 5 Orbit buildings 2, 3, 4 138,750 600 583 485 Actual delivery 400 6 Emerald Hills stage 2 107,602 487 413 +57% 386 323 328 200 209 Total I 386,775 I 0 TU Proven 2008 2009 2010 2011 2012 2013 capacity 2014 2015 2016 ! =2008 St Petersburg +2011 MMA deliveries Actual ■Impact of projects to be acquired in 2012-2013 Source: company estimates, JLL report as of 31.12.2011 Construction program (acquired projects) Etalon Group 08 80

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