1. Opportunities for investments in the Sverdlovsk Region Key facts about the region, incentives and services for investors, opportunities overview 2015

2. Supporting organisations Leading Language service provider in the Urals Practical experience of assistance in projects between Russia and the Netherlands Union of entrepreneurs from the non- resource sector of the economy Combines enterprises of more than 40 fields Objective: -Promotion of development of friendly business environment, -Advocacy of its members’ interests before the government and the society

3. Supporting organisations in the Netherlands Knowledge of the Russian market and business environment Experience in realization of joint projects between Russia and the Netherlands

4. 18 mln ppl living in radius of 550 km 18 mln ppl living in radius of 550 km Territory 194.8 thousand km 2 Territory 194.8 thousand km 2 Population 4.4 million ppl Population 4.4 million ppl Direct flights >100 cities of the world Direct flights >100 cities of the world About Sverdlovsk Region Key facts

5. About Sverdlovsk Region The region's economy Gross regional product, 2010-2014 The structure of the GRP, 2014

6. About Sverdlovsk Region Investors Relations The Ministry of Investment and Development of the Sverdlovsk Region is a specialized authority in charge of the investment climate of the Region MUDC (Middle Ural Development Corporation) is a state corporation engaged in direct work with companies implementing investment projects Governor of the Sverdlovsk Region and the regional Government pays great attention to support of existing industries and new investors of the region. It was Sverdlovsk Region which first introduced "Investors Relations Standard“. To work with new projects a special ministry was established as well as its subordinate organization.

7. About Business-bureau of the Association of Interpreters Founded in 1994, we are THE FIRST First association of language professionals in the Ural region in “modern” Russia First professional language service provider company in the Urals First company to introduce in house professional training courses First to implement rate regulations in the region to support fair competition amongst language professionals First Russian company to organise the largest conference for language professionals in eastern Europe First Russian Translations company to act as a business facilitator for international and cross cultural business relations First company in the Urals to support numerous Dutch programs – NBSO, PUM and many others

8. About MUDC Key facts MUDC (Middle Ural Development Corporation) is a public corporation established by the Government of the Sverdlovsk region in 2010 for the implementation of large-scale infrastructure projects, including: -«Titanium Valley» Special Economic Zone launched; -the largest Exhibition Centre outside Moscow MEC "Ekaterinburg-Expo" built and launched ; -a specialized clinic for the rehabilitation of people with locomotor system problems “Reparation technologies Hospital“ is launched; -MUDC is working on three industrial parks in different cities of the Sverdlovsk Region; Since spring 2015 MUDC tasked to work with investment projects in the industry: to support the development of existing businesses and attract new businesses into the Region. Charter capital – more than 10 bln. rubles

9. About MUDC 1. Region infrastructure development via PPP projects implementation Together with the Government and private investors we prepare projects on the development of social and engineering infrastructure of the Region on the basis of public-private partnership. 2. Fundraising for projects By using our own funds and involving our partners (banks, investment funds), we help to attract funding to a project. 3. Creation and management of industrial parks We create industrial parks across the Region by our own as well as together with the private sector. We also have all the information about the existing industrial parks and help to choose the best option to localize production. 4. Projects support under the “one-stop-shop” principle We help investors to get to know the Region by providing information on the conditions and business practices, select partners and suppliers, helping to choose the best location for production and obtain the necessary permits for construction and launch. need if you want to localize the production Main activities

10. We also assist businesses in obtaining tax benefits … Tax rateCorporate income taxProperty taxLand tax For new construction15.5%0% For modernization and technical re-equipment 18%0% Projects operating in Russia20%2.2%1.5% The rate of payment for forest resourcesAdditional opportunities Coefficient 0.5Forests lease without competition 1) for “priority investment projects of the Sverdlovsk Region” (1) - enterprises implementing projects related to industrial production and mining, have an opportunity to get preferential taxation … 2) for “priority projects in the field of forest development” (2) - enterprises engaged in deep processing of forest resources, get preferential opportunity to use forests … (1)Law №42-ОZ of the Sverdlovsk Region (2)Resolution of the Government of the Russian Federation №419 as of June 30, 2007 3) newly established enterprises get income tax relief – 15.5% instead of 20% in the Russian Federation

11. And help to get guarantees and subsidies from the budget … SubsidyFor whom The maximum amount of a subsidy State guarantee of Sverdlovsk Region Enterprises implementing investment projects and provided the necessary security not established (practically, up to 2 bln rubles) On the reimbursement of interests on loans obtained in Russian banks (1) Enterprises implementing investment projects (on ​​ the basis of competition results) 2/3 CBR refinancing rate, as of the date of the contract conclusion On the reimbursement of costs for implementation of new technological changes (1) Enterprises implemented technical changes or introduced new technical processes (on ​​ the basis of competition results) not more than 50% of the costs incurred in the current or previous year, and no more than 50 mln rubles On the reimbursement of costs associated with the introduction of R&D results Enterprises implemented results of R&D in their operation (on ​​ the basis of competition results) not more than 50% of the costs of costs in the current or previous year, and no more than 10 mln rubles (1)Resolution of the Government of the Sverdlovsk Region № 272-PP as of April 2, 2014 (2)Note one about this the word

12. 1. Investment opportunities in agriculture Key facts – production vs consumption Meat 261 000 tonnes 360 000 tonnes production consumption Milk 652 000 tonnes 1 485 000 tonnes Potato 250 000 tonnes 450 000 tonnes Vegetables 420 000 tonnes 621 000 tonnes Fruits 195 000 tonnes 35 000 tonnes 1) high potential for creating business for production, processing, storing of all types of agricultural products 2) the food product market shows similar dynamics (the production of the region does not satisfy the demand)

13. Project: soya beans processing for production of vegetable protein for food products and animal feeds Project description (incl. technical parameters) Construction of facilities for production of vegetable proteins with the following capacity:soy oil meal - 42 000 tonnessoy oil - 6 000 tonnessoybean flakes - 1 500 tonnestexturized soy protein - 4 500 tonnessemifat soya flour - 650 tonnes General description Location: Sverdlovsk region Kamensk Uralskiy Benefits: Reduction of unemployment Increase of local budget revenues Other positive benefits of the projects Recourses for implementation: US$ 7.5 mio Presumed products: Description of auxiliary infrastructure The production shall be located on a land plot of 0.5 hectares, all networks (electricity, water, sewage) and a convenient road access are available. Preliminary written LOI’s for the supply of soya beans are available. Potential consumers: compound feed producers, poultry plants, pig breeders, meat processing plants, bakeries and pastry shops Estimated market share after implementation of project: Sverdlovsk region - 10%; Chelyabinsk region - 5%; Tuymen region - 6%, Kurgan region - 4%, Perm region - 5% - soy oil meal - soy oil - soybean flakes -texturized soy protein - semifat soya flour

14. Financial performance Key investment indicators CAGR NPV US$ 3.9 mio IRR 33,7% 84% Discounted payback period 3 years Effect on the economy Tax revenues US$ 1.6 mio Contribution to GRP US$ 9.1 mio. Jobs 61 Over 10 years Necessary investments Debt financing US$ 7.5 mio - 2016 Over 5 years Cost of capital = 14.37% Debt = 10.41% Equity capital Weighted average capital cost (WACC) 13.9% P&L, US$ mio 2016201720182019 Revenues4.610.912.6 Costs3.48.29.7 Gross margin, %272523 EBITDA0.61.21.41.6 EBITDA, %13121113 Net profit0.51.01.11.3 Net margin, %119910 Performance indicators Annual production rate Volume, thousand tonnes Soy oil meal - 1.5, 4.5, 0.6542 Soy oil6 Soybean flakes1.5 Texturized soy protein4.5 Semifat soya flour0.65 Equity capital US$ 0.8 - 2016

15. Project: Vegetable storage facility Project description (incl. technical parameters) Construction of a vegetable storage facility with the storage capacity of 3 600 tonnes Lease of agricultural land of 1 500 hectares General description Location: Sverdlovsk region Kamensk Uralskiy area Benefits: Reduction of unemployment Increase of local budget revenues Other positive benefits of the projects Recourses for implementation: US$ 1.2 mio Presumed products: Description of auxiliary infrastructure The vegetable storage facility shall be located in close proximity of the leased agricultural lands with total area of 1 500 hectares The plot is located in the south of the Sverdlovsk region, 98 km from Ekaterinburg (largest market), allowing to unload production with minimal logistics costs; High demand for modern vegetable storage facilities; High consumer loyalty to products of local manufacture; Opportunity for purchasing vegetables from local producers as well as adjacent regions and areas. Supplier pool is represented by a high number of producers. Storage can be offered as a separates service, or wholesale purchasing of harvests can be made after harvest With subsequent wholesale distribution to retail networks throughout winter and spring. Potato Other vegetables

16. Financial performance Key investment indicators CAGR NPV US$ 0.4 mio IRR 15,1% 47% Discounted payback period 9 years Effect on the economy Tax revenues US$ 2.4 mio Contribution to GRP US$ 9.1 mio. Jobs 97 Over 10 years Necessary investments Debt financing US$ 1.2 mio - 2016 Over 5 years Cost of capital = 14.37% Debt = 10.41% Equity capital Weighted average capital cost (WACC) 12.4% P&L, US$ mio 201620172018201920202021202220232024 Revenues0,081.1 Costs0.120.66 0.59 Gross margin, %-4940.5 47 EBITDA-0.20.350.4 0,48 EBITDA, %-25032 35 Net profit-0.20.3 0,380,390,38 Net margin, %-25027 35 Performance indicators Indicator Annual storage volumes, t3 600 Agricultural land plot area, hectares 1 500 Land plot cost US$ 1.2 mio - 2016

17. Project: Sugary confectionaries production Project description (incl. technical parameters) Organization of production of Sugary confectionaries at existing production facilities. Purchasing of sugary confectionaries production line, revamping of existing facilities. General description Location: Novouralsk, Sverdlovsk region Benefits: Reduction of unemployment Increase of local budget revenues Other positive benefits of the projects Recourses for implementation: US$ 8.8 mio Presumed products: Description of auxiliary infrastructure The production line shall be located at existing bread baking facility in Novouralsk city 78 kilometers from Ekaterinburg (largest nearby market), allowing to unload products with minimum logistics costs. Available production facilities with all engineering networks (incl. gas); Own transport access routes (road and train); High consumer loyalty to products of local manufacture; Opportunity for purchasing raw materials from local producers as well as adjacent regions and areas. Raw materials supplier pool is represented by a high number of producers. The employees of the existing plan will allow to train a workforce with minimum and costs, allowing to launch production promptly. Chocolate sweets Caramel, marmalade

18. Financial performance Key investment indicators CAGR NPV US$ 2.9 mio IRR 24,6 28% Discounted payback period 3,6 years Effect on the economy Tax revenues US$ 7.5 mio Contribution to GRP US$ 24.2 mio. Jobs 34 Over 10 years Necessary investments US$ 8.8 mio Firs year - US$ 8.8 mio Over 5 years Cost of capital = 14.37% Debt = 10.41% Equity capital Weighted average capital cost (WACC) 13.9% P&L, US$ mio 20152016201720182019 Revenues1.411.612.613.313.9 Costs0.86.36.87.27.6 Gross margin, %45.145.8 EBITDA0.23.33.53.94.1 EBITDA, %13.328.228.129.229.6 Net profit- 1.970.81.52.12.4 Net margin, %- 1417121617 Performance indicators Indicator \ Technology Panning technology Dropping technology ProductsChocolate sweets Caramel, marmalade, sweets Necessary investments, US$ mio3.15.7 Annual production volumes, t2.34.9 Annual sales, US$ mio6.18.7 Production profitability, %3133 NPV, US$ mio0.180.77 IRR, %21.225.4 Payback period, years3.63.5

19. Industrial Parks for food processing Geographical location of the parks presented herein

20. 1. "Novosverdlovsky " Industrial Park General information and infrastructure description Resources for the two stages Water supply7300 m 3 /h Water separation servise industrial stormwater 7300 m 3 /hr 300 l/sec Electric power supply15 mW Heat supplyCentralized heating missing Gas supply7300 m 3 /h "Novosverdlovsky" industrial park located in Ekaterinburg total area of ​ two stages – 172 ha, including: 1 stage – 60 ha, 2 stage – 112 ha. Best suited for medium and large enterprises requiring large areas with the possibility of construction of objects distant from residential areas, as well as FMCG and packaging manufacturers, engineering companies, logistics centers Hazard class – III-V (1) Status of construction: -1 stage – residents’ access to the site for construction is planned for 2016; -2 stage – construction – 2017-2018 land cost – from 10 mln rub./ha (1)Russian classification

21. 2. ”PRO-BUSINESS PARK” Industrial Park “PRO-BUSINESS PARK” industrial park is located in Ekaterinburg Total area – 180 ha, free area – 19 ha Best suited for distribution centers, logistics facilities, wholesale and retail trade enterprises, transport companies, large retail chains and hypermarkets. Hazard class – V Resources security Water supply1700 m 3 /d Water separation servise industrial stormwater 1750 m 3 /d 300 l/sec Electric power supply15 mW Heat supplyCentralized heating missing Gas supply7300 m 3 /h Status: operates since 2012; land cost – from 19 mln rub./ha General information and infrastructure description

22. 4. «Berezovsky» Industrial Park Status: operates since 2013; Land cost – 8 to 15 mln rub./ha "Berezovsky" industrial park is located in the city of Berezovsky Total area – 63.3 ha, free area – 28 ha Best suited for small and medium enterprises with low power consumption (eg., furniture), distribution centers and logistics centers Hazard class – V Resources security Water supply50 m 3 /d Water separation50 m 3 /d Electric power supply1 mW Heat supply35 Gcal/h Gas supplyno restrictions, from Baltymskaya gas distribution station Nitrogen120 m 3 /h Compressed air2500 m 3 /h General information and infrastructure description

23. Contacts Dmitry Popov CEO, «Middle Ural Development Corporation», OJSC http://investural.com Konstantin Lennykh Business-bureau of the Association of Interpreters (http://en.perevodural.ru)http://en.perevodural.ru Middle Ural Development Corporation (http://investural.ru)http://investural.ru Business Russia (http://www.deloros.ru/about-us.htmlhttp://www.deloros.ru/about-us.html EMAIL: k.Lennykh@gmail.com; klennykh@perevodural.ruk.Lennykh@gmail.comklennykh@perevodural.ru TEL (RU): +7 965 535 11 45 TEL (NL): +31 6 2625 36 05

24. Contacts DE RUSLAND CONSULTANT Mr. Robert Nahon rusland@consultant.com +31 - 624 - 37 47 17 TASTE CONSULTANCY Mr. Wim van der Stek wim@vanderstek.nl +31 - 651 - 20 90 09