Investor Presentaiton

Clear Strategy Intended to Crystallize Value for Shareholders ◉ Geographical expansion Focus on St. Petersburg and Moscow Metropolitan areas Further develop regional sales network Home building business model Focus on residential development Vertical integration only in "bottleneck" areas Optimum land bank build-up No projects held for future development Efficient reinvestment of capital: quality business model Dominant player in «comfort class>> in Russia Offering the best quality products Maintain strong brand recognition Aim to increase shareholder value Prudent financing Focus on pre-sales financing Conservative borrowing strategy with extended debt maturity 2 Etalon Group 3 30

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