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Investor Presentaiton

At a glance Presence in rapidly growing markets • Focus on middle class residential real estate in Moscow metropolitan area (MMA) and St. Petersburg metropolitan area (SPMA) • 29% CAGR for deliveries over 2010- 2014(1) Strong delivery track record • Over 27 years of construction & development experience ⚫4.5 mln sqm commissioned True vertical integration •Strategic vertical integration in key value-added segments of property development enables the Company to control costs, quality and timing ⚫5,000 employees •Country-wide sales network covering 36 cities Diversified projects portfolio • Land bank of 3.11 mln sqm (2) . • Land bank sufficient until 2018 • Projects well diversified by locations within both SPMA and MMA Liquidity and credit ratings • Secure liquidity position supported by pre-sales cash collections model • Low leverage: 0.06x net debt / EBITDA, with a net debt of just RUB 636 mln (3) •Credit rating by S&P: B+/B(4) Corporate governance ⚫10 BoD members, 5 NEDS •Board of Directors consists of professionals with broad range of experience and expertise, ensuring that the interests of all groups of shareholders are appropriately represented • Monthly visual updates on projects, quarterly trading updates and semi- annual financial reporting •⚫ Official guidance on deliveries and new contract sales • Dividend policy aims to pay out 15% to 30% of IFRS net profit semi- annually (1) Company operating results; (2) JLL land bank valuation report as of 31.12.2014; (3) IFRS financial statements as of 31 December 2014; (4) 'B+' long-term & 'B' short-term corporate credit ratings of SSMO LenSpetsSMU (last reconfirmed on 29.07.2013). LSE ticker Share price Market capitalization Portfolio valuation (by Jones Lang La Salle) ETLN:LI USD 2.20 (26.03.2015) USD 642 mln (26.03.2015) RUB 104,286 mln (31.12.2014) Portfolio composition (2) ■ SPMA 44% 56% ■ MMA 5% ■Projects under development 49% Projects at design stage 46% Projects completed ✓ Etalon Etalon Group 46 26
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