DMITREY MEDVEDEV PRESIDENT OF THE RUSSIAN FEDERATION: «Land must be made to serve residential construction». VLADIMIR PUTIN THE PRIME MINISTER OF THE RUSSIAN FEDERATION: «Developers must be given the maximum choice of land plots with all necessary infrastructure, including roads. We are counting on the Housing Development Foundation to help achieve this». KEY ISSUES

IS IT SAFE TO INVEST IN RUSSIA? WHO GUARANTEES LEGALITY OF LAND TRANSACTIONS IN THE RUSSIAN FEDERATION? IS THE RUSSIAN INVESTMENT MARKET COMPETITIVE? ARE THERE ANY GUARANTEES THAT INVESTMENTS IN THE RUSSIAN FEDERATION WILL BE SUCCESSFUL? HOW CAN BUREAUCRATIC OBSTACLES BE OVERCOME? ARE DIFFERENT STRATEGIES REQUIRED WHEN INVESTING IN SEVERAL REGIONS?

THE RHDF’S SERVICES: A NEW PRODUCT ON THE RUSSIAN NVESTMENT MARKET LAND PLOTS SUPPORT IN PROJECT IMPLEMENTATION A BETTER RETURN ON INVESTMENTS

BY WORKING WITH THE RUSSIAN HOUSING DEVELOPMENT FOUNDATION YOU RAISE YOUR LEVEL OF SECURITY WHEN INVESTING IN RUSSIA YOU OBTAIN GUARANTEES OF THE LEGALITY OF LAND TRANSACTIONS IN THE RUSSIAN FEDERATION YOU OBTAIN ACCURATE INFORMATION ABOUT COMPETITIVENESS OF THE MARKET YOU RAISE THE COMMERCIAL EFFICIENCY OF YOUR INVESTMENTS IN THE RUSSIAN FEDERATION THE RUSSIAN HOUSING FOUNDATION HELPS TO LOWER BUREAUCRATIC BARRIERS YOU OBTAIN A STANDARD MODE OF OPERATION FOR INVESTMENTS IN ANY REGION

RUSSIAN HOUSING DEVELOPMENT FOUNDATION FINANCIAL SUPPORT. ASSISTANCE WITH FINANCING BY INVOLVEMENT OF FINANCIAL INSTITUTIONS THE FOUNDATION GUARANTEES LEGALITY OF ANY OPERATIONS WITH LAND FULL SUPPORT FOR INVESTORS. GUARANTEED EXECUTION OF COMMITMENTS OPERATIONS IN ALL RUSSIAN REGIONS REMOVING ADMINISTRATIVE BARRIERS: ASSISTANCE IN PROJECT IMPLEMENTATION AT REGIONAL AND LOCAL LEVEL SUPPORTING TRANSACTIONS WITH OUR CLIENTS

MAKING AN AGREEMENT SIGNING AN ACTION PLAN FOR RESIDENTIAL CONSTRUCTION WITH THE REGIONAL GOVERNOR AUCTION SCHEDULE AUCTION ASSISTANCE WITH TOWN PLANNING DOCUMENTATION AND ARCHITECTURAL/ CONSTRUCTION DESIGN STIMULATING DEMAND ASSISTANCE WITH CONNECTION OF UTILITIES AT PLOTS MONITORING IMPLEMENTATION ASSISTANCE WITH FINANCING HOW THE FOUNDATION OPERATES

GEOGRAPHY OF THE FOUNDATION’S OPERATIONS

OUR PARTNERS GOVERNMENT BODIES THE FEDERAL SERVICE FOR STATE REGISTRATION, CADASTER AND CARTOGRAPHY THE FEDERAL AGENCY FOR PROPERTY MANAGEMENT THE ACCOUNTS CHAMBER OF THE RUSSIAN FEDERATION THE FEDERAL SERVICE FOR FINANCIAL AND BUDGET SUPERVISION THE MINISTRY OF ENERGY OF THE RUSSIAN FEDERATION NATURAL MONOPOLIES OJSC FEDERAL GRID COMPANY, UNITED ENERGY SYSTEM OJSC INTER-REGIONAL DISTRIBUTIVE GRID COMPANIES HOLDING OJSC GAZPROM

STATE CORPORATIONS FOUNDATION FOR REFORM OF THE HOUSING UTILTIES SECTOR BANK FOR DEVELOPMENT AND FOREIGN ECONOMIC ACTIVITY (VNESHECONOMBANK) NON-PROFIT ORGANIZATIONS NAMIX NON-PROFIT PARTNERSHIP OJSC AGENCY FOR MORTAGAGE FINANCING OF REAL ESTATE OJSC SAVINGS BANK OF THE RUSSIAN FEDERATION (SBERBANK) BANKS AND FINANCIAL STUCTURES

KEY STEPS FOR DEVELOPMENT OF THE FOUNDATION IN CREATION AND DEVELOPMENT OF A UNIFIED INFORMATON AND RESEARCH SYSTEM IMPROVING TECHNOLOGIES FOR PROVISION OF LAND PLOTS FOR RESIDENTIAL AND OTHER DEVELOPMENT ENSURING THAT LAND PLOTS ARE PROVIDED WITH UTILITY INFRASTRUCTURE ENSURING THAT THE RHDF’S LAND PLOTS HAVE NECESSARY TOWN PLANNING DOCUMENTATION SUPPORT FOR FINANCING STIMULATING DEMAND SUPPORTING DEVELOPMENT OF THE CONSTRUCTION MATERIALS INDUSTRY AND OF CONSTRUCTION TECHNOLOGIES

PROJECT: Area of the land plot is 98 hectares; The lease agreement is for 11 years; Maximum time, in which residential construction, other construction and construction of engineering (utility) infrastructure is to be completed, is 11 years; Initial price for the right to make a lease contract is $191,808 per hectare per annum; Lease payment in the first year is $6,455 per hectare per annum; Lease payment in the remaining period is $12,910 per hectare per annum; Residential floor is 618,000 sq m; IRR is 29%, NPV is $26,614 EXAMPLE OF THE PROJECT IMPLEMENTED IN TYUMEN

DEMAND INDICATORS Economy class Business class Elite sq m 0, , , , , , , , , ,

IRR NPV Single PlayerRHDF partnership % $ million COMPARISON OF INDICATORS WITH AND WITHOUT RHDF INVOLVEMENT 0% 10% 20% 30% 40% 50%

PROJECT: Area of the land plot is 6,3 hectares; The lease agreement is for 5 years; Maximum time, in which residential construction, other construction and construction of engineering (utility) infrastructure is to be completed, is 5 years; Initial right for the price to make a lease contract is $67,797 per hectare per annum; Lease payment in the first year is $14,319 per hectare per annum; Lease payment in the remaining period is $32,217 per hectare per annum; Residential floor space is 68,224 sq m; IRR – 32%, NPV – $1, EXAMPLE OF A PROJECT IMPLEMENTED IN CHEBOKSARY

DEMAND INDICATORS 0,000 50, , , , , , , , sq m Economy class Business class Elite

IRR NPV Single PlayerRHDF partnership COMPARISON OF THE INDICATORS WITH AND WITHOUT RHDF INVOLVEMENT 0% 10% 20% 30% 40% 50% %$ Thousands

Preparation of the land plot for auction Holding the auction and signing the agreement Design, approval and signing of a plan of project measures Provision of guarantees to buy up to 25% of floor space, provided that the new property meets criteria for economy class residential property (set by the Ministry for Regional Development) ROLE OF THE RUSSIAN HOUSING DEVELOPMENT FOUNDATION Support for implementation of the investment project, by coordinating: Execution by government agencies, natural monopolies, financial and other organizations of their duties for development of land plots Provision of engineering (utility) infrastructure of the plot Provision of the mortgage credit to property buyers by the Agency for Housing Mortgage Lending and banks, and assistance to the developer in finance sourcing Use of standard projects at the land plot

Speeding up preparation and issue of enabling documentation, and conduct a state expert approval Rapid issue of technical conditions for connection to heat networks and external electricity supply Construction of social infrastructure Assistance with provision of engineering (utility) infrastructure at the plot ROLE OF REGIONAL GOVERNMENT

Alexander Zhukov Deputy Chairman of the Russian Federation (Chairman of the Board of Trustees Elvira Nabiullina Minister of Economic Development of the Russian Federation (Deputy Chairman of the Board of Trustees) Kirill Androsov Deputy Head of the Office of the Government of the Russian Federation Vladimir Dmitriev Chairman of the State Corporation, “Bank for Development and External Economic Activity” (Vnesheconombank) Svetlana Orlova Deputy Chairman of the Federation Council (Upper House of the Federal Assembly of the Russian Federation) Martin Shakkum Chairman of the Committee of the State Duma (Lower House of the Federal Assembly of the Russian Federation) for Construction and Land Relations Arkady Dvorkovich Assistant to the President of the Russian Federation (Deputy Chairman of the Board of Trustees) Victor Basargin Minister of Regional Development of the Russian Federation (Deputy Chairman of the Board of Trustees) Alexander Braverman General Director of the Russian Housing Development Foundation Igor Kuzin Director of the Department for Budget Policy in Sectors of the Economy at the Ministry of Finance of the Russian FederationКузин Gennady Binko Deputy General Director of OJSC Inter-regional Distribution Grid Company Holding MEMBERSHIP OF THE BOARD OF TRUSTEES OF THE RUSSIAN HOUSING DEVELOPMENT FOUNDATION

BUILDING 1, 4 SLAVYANSKAYA SQUARE, MOSCOW, TELEPHONE: +7 (495) FAX: +7 (495) WEB: