Investor Presentaiton

Better product mix drives new contract sales in 3Q 2014 3Q 2013 New contract sales by project, sqm 3Q 2014 New contract sales by project, sqm House on Tukhachevskogo Etalon City Etalon City Other Other projects projects street 1% Samotsvety 3% Galant 5% Rechnoy Emerald Hills 3% 3% 4% Swallow's Nest Swallow's Nest 5% 23% 5% 25% Jubilee Estate 6% 6% Rechnoy 10% Galant 7% 13% Jubilee Estate 8% 11% Molodejny 12% 11% Letniy 23% Molodejny 16% Emerald Hills Tsar's Capital Significant portfolio diversification with growing share of prime location projects Tsar's Capital Average price, RUB/sqm 95,000 89,402 87,887 . Swallow's Nest and Emerald Hills enjoy strong demand from customers 85,671 85,271 84,286 83,234 80,606 78,484 80,000 75,120 74,073 Tsar's Capital accounted for 16% of new sales, with the long- awaited second stage now available for clients 71,611 K 65,000 . Sales at Samotsvety launched at the very end of August, but the project already contributed c. 4% to total 3Q 2014 sales . Two new project launches scheduled for 4Q 2014 will further improve the product mix 50,000 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 Source: Company data ✓ Etalon Group 23

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