Investor Presentaiton

Balance sheet mln RUB 2011 2012 2013 1H12 1H13 1H14 mln RUB 2011 2012 2013 1H12 1H13 1H14 Assets Equity and Liabilities Non-current assets Equity PP&E 2,009 2,380 1,962 i 2,152 1,853 2,326 Share capital Investment property 1,142 638 1,052 Retained earnings Other long-term 88 60 275! 48 241 684 investments Total equity attributable to equity holders of the Company 14,980 14,967 14,967 14,967 14,967 14,983 17,704 22,688 29,332 20,009 25,771 30,259 32,684 37,655 44,299 34,976 40,738 45,242 Trade and other Non-controlling interest 372 408 387 436 394 387 551 433 1,332 472 390 756 receivables Total equity 33,056 38,063 44,686 35,412 41,132 45,629 Deferred tax assets 679 434 560 536 433 710 I Non-current liabilities Other non-current assets 92 11 10 10 10 10 I I Loans and borrowings 8,456 12,811 10,176 7,466 10,750 10,050 Total non-current assets 3,419 3,318 5,281 3,218 3,565 5,538 Current assets Trade and other payables Provision 48 980 785 30 1,041 678 77 65 89 61 61 91 Inventories 32,047 41,522 50,057 34,613 44,056 57,132 Trade and other receivables 7,473 11,058 15,078 8,200 14,387 17,746 Deferred tax liabilities Total non-current liabilities Current liabilities 98 226 8261 272 402 650 8,679 14,082 11,876 7,829 12,254 11,469 Short-term investments 1,327 6,870 5,008 3,032 3,824 5,493 Cash and cash equivalents Other current assets Total current assets Total assets 14,484 10,716 8,139 13,276 34 32 71 13 8,559 20 9,635 18 Loans and borrowings Trade and other payables Provisions 55,365 70,198 78,289 59,134 70,846 90,024 58,784 73,516 83,570 62,352 74,411 95,562 Total current liabilities Total equity and liabilities 1,950 3,825 3,043 3,375 2,359 4,689 13,539 16,966 22,300 14,570 18,399 32,436 1,560 580 1,665 ! 1,166 267 1,339 17,049 21,371 27,008 19,111 21,025 38,464 58,784 73,516 83,570 62,352 74,411 95,562 Source: IFRS financial statements for 2011, 2012, 2013, 1H12, 1H13, 1H14 Etalon Group 46 46

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