2. W HAT IS S KOLKOVO N EWLY BUILT INNOVATION CITY MIT- DRIVEN P OST - GRADUATE RESEARCH U NIVERSITY P IPELINE OF NEW STARTUPS VC NETWORK U P TO 80 M ULTINATIONALS T ECHNO PARK SERVICES D IRECT LINKS TO P RESIDENT AND G OVERNMENT M INISTRIES 2

3. S PECIAL CONDITIONS FOR STARTUPS IN S KOLKOVO No VAT or profit tax for up to 10 years if profit is <$10M/year and turnover is <$30M/year 3 Refund of import customs duties and VAT expenses paid during import to the RF customs territory 14% unified social tax rate for residents Better market access Techno park services Lower administrative burden

4. 4 P IPELINE Business plans reviewed in 12 months Skolkovo start-ups Applied for Grant Grants approved for the total amount $170m 1 month 2 months

5. 5 S KOLKOVO G RANTS >25% private Grant application Primary project selection Due Diligence Grant Committee 100% Skolkovo Investment Office Cluster 2 months (Unsurpassed speed of delivery of up to $10m USD) Skolkovo Grants: Skolkovo Private Sector Typical non-dilutive financing amounts  Start-up – up to $1m  Growth – up to $5m  Expansion – up to $10m Co-investment requirements, % of the total project budget  Start-up – at least 25%  Growth – at least 50%  Expansion – at least 75% Co-investment preferences  Cash co-investment preferred  Investor’s global track record in particular sector

6. VC S ACCREDITED WITH S KOLKOVO F OUNDATION 6 Over 20 leading Russian and international VCs signed MoUs with Skolkovo ~$300m – soft commitments to invest in Skolkovo residents 25 Skolkovo residents are backed by accredited VCs 1. Almaz Capital 2. Exigen Capital 3. Pangaea Ventures 4. S-Group Capital management 5. Runa Capital 6. Foresight Ventures 7. Maxwell Biotech 8. VTB Capital 9. Bioprocess Capital 10. Leader Asset Management

7. C ASE S TUDY : R OCK F LOW D YNAMICS 7 RockFlow Dynamics, backed by Intel Capital, received grant financing from Skolkovo Foundation. Rock Flow Dynamics (RFD) develops software for the petroleum industry. It offers a wide range of advanced innovative tools for reservoir engineering implemented in tNavigator – the dynamic reservoir simulator developed by the company. Established in 2005 Profitable since 2007 Backed by Intel Capital in November 2010 Applied to Skolkovo in June 2011 Received Skolkovo resident status in July 2011 Received Grant financing from Skolkovo in October 2011 2005 … 2007 … IVQ2010IQ2011IIQ2011IIIQ2011IVQ2011

8. K EY PARTNERS R USSIAN COMPANIES I NTERNATIONAL COMPANIES 8

9. T HANK YOU 9