Etalon Group Operating Results

OPERATIONS IN ST PETERSBURG AND MMA(1) PROJECTS IN ST PETERSBURG 11 1 2 8 10 4 9 5 6 1 PROJECTS IN MOSCOW METROPOLITAN AREA(1) 10 3 Under construction Design stage Completed (1) Moscow, New Moscow and Moscow region within 30 km from Moscow Ring Road Etalon Group OPERATING RESULTS 4 9 6 8 5 LANDBANK VALUATION FINANCIAL RESULTS SELECTED PROJECTS APPENDIX 12

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