Investor Presentaiton

Summary 1 2 3 4 5 Strong operating results in 2014, with deliveries up 24% and new contract sales up 28% (in sqm) Robust financial performance, with revenue up 29% to RUB 51.5 billion and net income up 26% to RUB 8.4 billion Project portfolio grew in value by 17% to RUB 104.3 billion, or RUB 357 per share (source: JLL portfolio valuation as of 31 December 2014) Balance sheet remains exceptionally strong, with net debt of only RUB 636 million (0.06x net debt / EBITDA) Etalon Group is well positioned to continue creating shareholder value in a more complicated macro environment > Etalon Group 4

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