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Investor Presentaiton

Project portfolio time line Construction period Project 2011 2012 2013 2014 2015 2016 and Status Total NSA (*000sqm) Unsold NSA (Etalon's OMV (US$mn) Unsold Construction Outstanding beyond share) parking (lots) budget (US budget (US $mn) $mn) ('000 sqm) St. Petersburg 1 Jubilee Estate 2. Orbit 3. Etude 4.Prestige 5. Lastochkino gnezdo 6. Letniy 7. Rechnoy 8. Galant 9. Molodejny 10. Samotsvety 11. Tsarskaya stolitsa 12. Moskovsky 13. Marshala Tukhachevskogo 14. Galactica Completed and unsold residential developments Completed stand-alone commercial properties Total SPMA Construction 602 242 448.6 1,375 738 31 Construction 207 88 114.7 908 233 82 Construction 23 7 13.3 138 23 5 Construction 21 13 33.9 96 42 8 Construction 319 318 50.1 1,950 387 382 Construction permit 71 71 25.6 604 86 86 Construction permit 108 92 22.3 688 125 125 Construction permit 56 56 28.1 123 91 91 Construction permit 96 96 32.5 678 109 109 Planning permit 187 187 63.4 865 311 310 Planning permit 459 358 129.5 1,638 793 793 Planning permit 253 253 118.6 1,286 408 408 Construction permit 30 30 n/a n/a n/a n/a Planning permit 680 n/a n/a n/a n/a n/a 1,133 30 46.3 623 0 0 39 6 41.7 0 0 0 4,284 1,847 1,168.6 10,972 3,346 2,430 Moscow 1. Emerald Hills 2. Etalon-City 3. Dmitrovskoe shosse 4. Prospekt Budennogo Total MMA Construction 884 779 342.2 4,463 1,132 978 Planning permit 381 364 99.6 4,019 576 576 Planning permit 357 285 103.4 2,584 538 531 Planning permit 40 40 n/a n/a n/a n/a 1,662 1,468 545.2 11,066 2,246 2,085 Total Etalon Group 5,946 3,315 1,713.8 22,038 5,592 4,515 Source: company estimates, JLL report as of 31.12.2011 Etalon Group 09 90
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