Investor Presentaiton

Vigorous growth in FY 2013 Financial results Transfers to customers, sqm +45% 240,912 349,793 Total Revenue, mln RUB +48% 26,894 Adjusted gross profit*, mln RUB +35% 39,921 9,741 1,149 8,706 FY 2012 FY 2013 FY 2012 FY 2013 Selling, General and Administrative expenses as % of revenue EBITDA, mln RUB 12.2% 10.5% 6,931 +36% 9,430 13,147 440 743 -114 FY 2012 FY 2013 11,964 ■Other segments plus elimination of inter-segment profit ■Construction services ■Residential real estate development Net Income, mln RUB +33% 6,664 5,000 FY 2012 FY 2013 FY 2012 FY 2013 FY 2012 FY 2013 Source: IFRS financial statements *Note 5 to IFRS financial statements Etalon Group 14

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