Lastochkino Gnezdo Project Presentation

Strong corporate governance and cornerstone international investor Corporate governance structure General Shareholders Meeting Board of Directors Current shareholding structure 27.9% Board Committees • Chairman (V. Zarenkov) • 4 Executive Directors Remuneration Committee 12.5% • 5 Non-Executive Directors, including two Independent Directors Nomination Committee Management Team Audit Committee • 1 INED (Chairman) 1 NED Source: Company data (1)includes Baring Vostok Etalon Group 2 Executive Directors 12.4% Founders Management Institutional investors Free float As of 15 April 2011 47.2% 13

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