Investor Presentaiton

По что ты хоч BUMM Данн 20 25 Dairy - Raw Milk Challenge WBD is working to ensure predictable supply, smoothing out seasonality SHAA Milk producer ruble prices change y-o-y WBD Raw Milk Purchase Price (rubles/liter) RUR 8,0 7,5 7,0 15 6,5 10 6,0 5,5 50 5,0 4,5 о 4,0 Jan Feb Mar Apr May Jun Jul Aug Sep Octv Nov Dec -5 2000 2001 2002 2003 2004 2005 2003-2004 -2005 Source: GKS Source: WBD • Move toward long-term supply contracts & direct contracts with farmers • Milk Rivers program leases milking & refrigeration equipment to farms • Working with Russian government to develop plan for sector and increase investments • Agro SBU established to gauge vertical integration 9

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