Financial Results

Robust revenue growth in 1H 2015 Transfers to customers, sqm 103,260 +33% 137,055 1H 2014 1H 2015 Residential real estate development revenue, mln RUB 8,873 +56% 13,857 1H 2014 1H 2015 Construction services revenue from third parties/external, mln RUB Total revenue, mln RUB -53% 3,979 1H 2014 Source: IFRS financial statements, Company information ✓ Etalon Group 1,872 1H 2015 14,539 +25% 18,148 1H 2014 1H 2015 Operating Results Financial Results Landbank Valuation 2015 Deliveries Appendix 11

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