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Financial Results

Etalon Group targets optimal land bank management Acquired 1 project acquired in 2014: • • • Three-hectare land plot situated on Polyustrovskiy prospect in the Kalininskiy district of St. Petersburg Total NSA - 91 ths sqm Land planning documentation for the land plot already obtained, allowing the rights holder to begin construction in the near future Property is located within walking distance from the Lesnaya metro station and four kilometres from central St. Petersburg Launched 2 projects launched in 2014 enjoy strong demand, driving new sales: Samotsvety Moscow Gates Completed 2 projects completed in 2014 still generate sales without extra spending: Galant Total NSA 50 ths sqm Apartment pre-sales rate - 67% (as of June 2014) • Total NSA-206 ths sqm • Total NSA 234 ths sqm • Launched in August 2014 • Launched in November 2014 • Project share in 4Q 2014 sales - 12% Project share in 4Q 2014 sales - 4% • Rechnoy Total NSA 111 ths sqm Apartment pre-sales rate - 82% (as of December 2014) Total inventory of completed and available for sale property stands at 432 ths sqm, including 220 ths sqm of apartments, as of 31.12.2014 Source: Company data Etalon Group Operating Results Financial Results Landbank Valuation 2015 Deliveries Appendix 17
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