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Investor Presentaiton

Strong corporate governance and shareholder structure Corporate governance structure General Shareholders Meeting Board of Directors Shareholder structure 1.0% 30.8% 44.1% Board Committees • Chairman (D. Zarenkov) 16.4% • 2 Executive Directors 7.7% Strategy Committee ⚫ 7 Non-Executive Directors, including 4 Independent Directors Zarenkov family Remuneration & Nomination Committee Management Baring Vostok Free float Etalon Development Ltd Management Team Audit Committee As of 31 December 2015 Source: Company data → Etalon Group Operating Results Landbank Valuation Financial Results Selected Projects Appendix 37
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