Investor Presentaiton

Summary 1 New contract sales in 9M 2014 increased 28% y-o-y to RUB 26.7 billion 2 Cash collections for 9M 2014 came to RUB 23.8 billion, up 35% y-o-y 3 Free cash flow supported by strong cash collections performance turned positive in 1H 2014 4 Initial dividend distributed in July 2014, second dividend announced in November 2014 5 Balance sheet remains exceptionally strong with net cash of RUB 349 million as of 30 June 2014 Etalon Group 4

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