Lastochkino Gnezdo Project Presentation

Construction programme: update Updated construction programme, ths sqm of NSA 1000 900 800 800 800 700 707 600 500 583 -582- 400 300 485 Actual delivery +57% 413 467 364 323 328 200 209 100 0 Proven 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 capacity =2008 St Petersburg +2011 MMA deliveries Quarterly deliveries of NSA, ths sqm Actual Construction program (acquired projects) Projects under acquisition Certain amount of transfers will happen in 2013 Certain amount of transfers will happen in 2014 439 500 450 400 350 300 250 200 150 100 50 0 146 107 111 28 42 40 289 211 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 Source: company estimates Etalon Group 03 33

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