Cherkizovo Group OJSC ("Cherkizovo" or "the Group" or "the Company") Financial results for the Year Ending December 31, 2013

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1 6 March 2014 Cherkizovo Group OJSC ("Cherkizovo" or "the Group" or "the Company") Financial results for the Year Ending December 31, Moscow, March 6, Cherkizovo Group (LSE: CHE), Russia's largest integrated and diversified meat producer, today announces full-year audited financial results for the period ending. Financial Highlights Revenues increased by 8% in roubles, and increased by 5% on a US Dollar basis to $1,654.9 million in from $1,570.3 million in. Revenues increased by 6% to $460.0 million in the fourth quarter of from $433.0 million for the fourth quarter of, and increased by 11% on a rouble currency basis. EBITDA* decreased by 41% in roubles, and declined by 43% on a US Dollar basis to $180.6 million in from $314.6 million in. EBITDA* in the fourth quarter of decreased by 14% to $65.1 million from $75.4 million in the fourth quarter of, and decreased by 10% on a rouble currency basis. EBITDA* margin was at 11% in, down from 20% in. EBITDA* margin in the fourth quarter of decreased to 14% from 17% in. Gross profit decreased by 19% in roubles, and decreased by 21% on a US Dollar basis to $358.4 million in from $452.8 million for. Gross profit in the fourth quarter of decreased by 1% to $118.2 million from $119.3 million in the fourth quarter of, and increased by 4% on a rouble currency basis. Group gross margin was at 22% in and 26% for the fourth quarter. Net income decreased by 70% in roubles and declined by 71% on a US Dollar basis to $64.5 million from $225.2 million in. Net income in the fourth quarter of decreased by 38% to $41.4 million from $ 66.5 million in fourth quarter of, and declined by 35% on a rouble currency basis. As of Net debt** was RUR 24,746.5 million ($756.1 million). The effective cost of debt increased to 3% from 2% for Net income per share decreased by 72% to $1.47 Cash conversion rate (CCR)*** was 277% (103% for ) Business Developments Large scale projects aimed to double capacity at the Bryansk and Penza clusters were completed. As a result of these 7.5 billion RUR investments, Bryansk cluster capacity increased from to tonnes p.a., Penza cluster capacity increased from to tonnes p.a. (liveweight) Construction is underway of new broiler farms in the Moscow and Lipetsk regions. These farms will become operational in 2014 Construction is underway of feed plant in the Bryansk region, hatchery for 240 million eggs p.a. and grain storage facility of tonnes in the Lipetsk region Petelinka brand recognized as "The Product of the Year"; new marketing campaigns and branding initiatives helped to increase the share of branded poultry products in sales

2 All new pork complexes are fully stocked with sows and fully operational. The company had increased number of piglets born by with the same number of sows as in Cherkizovo became Russia's second largest pork producer, increasing its sales of live hogs by 50% The company installed a new semi-cooked products line "Cherkizovo Express" worth $20 million on its Moscow CHMPZ plant The company reconstructed the slaughtering facility at Penza plant, increasing its meat storage capacity threefold and its livestock storing capacity twofold. Cherkizovo acquired Dankov meat processing plant and slaughter house in the Lipetsk region grain harvest increased by 50% as compared to ; the Company demonstrated very strong yields. Commenting on the financial performance, Cherkizovo Group CEO Sergei Mikhailov said: The year was challenging for the entire Russian meat industry, including Cherkizovo Group. In the first half of the year, the pricing environment for the pork and grain markets was unfavourable. Live pigs prices reached record lows, while in contrast, prices on grain reached a historic high for the last decade. Under these conditions, even the most efficient manufacturers, such as our company, experienced constant losses. However, starting from the second quarter, the situation began to improve. The first and most important event was the grain price drop to the level of longstanding trends. Due to the decrease of imports and to production at private farms, the pork supply declined, and by the middle of the third quarter, pig prices returned to acceptable figures. In addition, the government allocated one-time compensatory subsidies to producers, and this partly mitigated the consequences of the price shock. During this difficult period, Cherkizovo Group once again demonstrated that its business model, which combines vertical integration and diversification, enables the company to operate confidently, even in the most unfavourable conditions. Cherkizovo Group's revenues rose, surpassing 50 billion roubles for the first time in the company's history, and we increased production and sales in all divisions. In, the company produced approximately 640,000 tonnes of meat products and around 1.5 million tonnes of feed, confirming its status as the country's largest meat and fodder manufacturer. Despite the fact that profitability indexes dropped substantially due to the unfavourable market environment, we are satisfied with the results of the work done in. In the poultry division, we completed projects to double production capacity in Penza and Bryansk poultry clusters, achieving the specified capacity of 450,000 tonnes live weight per year. The company focused on marketing and sales in order to achieve sufficient profitability on the stagnating market. We increased the share of our branded products by 7 percentage points, to almost 60 per cent, and Petelinka, our top brand, was recognized as The Product of the Year. The previously implemented investment program in pig production enabled Cherkizovo Group to sharply expand production and performance and to become, based on the year's results, Russia's second largest pork producer. We increased sales by more than 50 per cent. Obviously, the low pork prices in the first half of the year did not make it possible to obtain in a full financial yield from growth in pig production, but after prices recover, we expect that this division will again become one of the most profitable business sectors. Meat processing emerged as a stabilising factor for the business. The price decline on meat, which hurt pig production, helped the meat processing division to increase its profitability to double digits. The higher profitability was also supported by improvement in sales structure and an increase in the share of high-margin products. During the year we reconstructed the Moscow and Penza facilities, raising their operating efficiency and preparing for the release of new lines of ready-to-cook products. The grain division returned outstanding results. Compared to, yield was up by 50 per cent from practically the same cultivated area. Moreover, the grain yield at Cherkizovo Group facilities substantially exceeds the countrywide average. In order to make the grain division even more efficient, we are continuing to invest in modern agricultural machinery and grain storage. Cherkizovo Group has entered 2014 with facilities that are operating at full capacity, and this will make it possible to produce and sell considerable volumes of meat products this year, while the favourable pricing

3 environment that we are currently observing on the markets will help to regain our business profitability longstanding trend. *** About Cherkizovo Group Cherkizovo Group (LSE:CHE) is the largest meat manufacturer in Russia and one of the top three companies serving Russia's poultry, pork and meat processing markets. The company is also Russia's largest producer of fodder. The Group includes 7 full cycle poultry production facilities, with a total capacity of 450,000 tonnes live weight p.a.; 14 modern pork production facilities with a total capacity of 180,000 tonnes live weight p.a.; 6 meat processing plants with a total capacity of 158,000 tonnes p.a.; 6 fodder plants with a total capacity of 1.4 million tonnes p.a.; grain storage facilities with a total storage capacity exceeding 500,000 tonnes; and a land bank exceeding 100,000 hectares. In, Cherkizovo produced more than half a million tonnes of meat and processed meat products. Due to its vertically integrated structure, which includes agricultural land, grain storage facilities, feed production, livestock breeding, growing and slaughtering as well as meat processing and integrated distribution, Cherkizovo has consistently delivered sustainable revenue and profit growth. In, Cherkizovo's US GAAP consolidated revenue exceeded $1,6 billion. Cherkizovo's strategy includes both organic growth and investment in new projects, driving the consolidation of the Russian meat market. Within the last five years alone, Cherkizovo has invested more than $1 billion into the development of Russia's agriculture sector. Cherkizovo shares are quoted on LSE and MICEX. - Ends - For further information: Investors/Analysts/Media Alexander Kostikov Head of Communications Tatyana Elizarova Senior IR Manager Tel ext a.kostikov@cherkizovo.com Tel ext t.elizarova@cherkizovo.com *** Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid market change in our industry, as well as many other risks specifically related to the Group and its operations $ symbol in this press release stands for US Dollar

4 Financial Overview The table below summarizes the Group's performance in dollars for the full year and for the fourth quarter of : $, mln Change 4Q13 4Q12 Change Sales % % Gross Profit % % Gross margin, % 22% 29% 26% 28% Operating expenses (269.8) (220.7) 22% (77.9) (67.2) 16% Operating Income % % Operating Income margin, % 5% 15% 9% 12% Net Income % % Adjusted EBITDA % % EBITDA margin, % 11% 20% 14% 17% On a reported currency basis sales increased by 5% to $1,654.9 (: $1,570.3 million) due mostly to strong organic growth in the pork segment. Gross profit decreased by 21% to $358.4 million (: $452.8 million) due mostly to a very weak price environment in the pork segment and high grain prices in the first half of. Operating expenses as a percentage of gross sales increased to 16% from 14%. Net income decreased by 71% to $64.5 million in from $225.2 million in. Adjusted EBITDA* decreased by 43 % to $180.6 million (: $314.6 million) and adjusted EBITDA* margin was at 11% in, and at 14% in the fourth quarter of, reflecting an improvement in profitability in the pork segment. The table below summarizes the Group's performance in roubles: RUB, mln Change 4Q13 4Q12 Change Sales % % Gross Profit % % Gross margin, % 22% 29% 26% 28% Operating expenses ( ) ( ) 25% ( ) ( ) 21% Operating Income % % Operating Income margin, % 5% 15% 9% 12% Net Income % % Adjusted EBITDA % % EBITDA margin, % 11% 20% 14% 17% Poultry Division Sales volume in the Poultry division in increased by 7% y-o-y to tonnes of sellable weight compared to tonnes in. Prices in ruble terms decreased by 2% y-o-y from RUR/kg in to RUR/kg in. Compared to the price of RUR/kg in the third quarter of, the price in the fourth quarter of increased by 1% to RUR/kg. Prices in dollar terms decreased by 4% y-o-y from $2.53/kg in to $2.42/kg in. Compared to the price of $2.35/kg in the third quarter of, the price in the fourth quarter of increased by 2% to $ 2.40/kg. Total sales in the Poultry division were almost flat reported at $ million in (: $842.1 million). Gross Profit decreased by 35% to $152.0 million (: $232.9 million), divisional Gross margin decreased to 18% (: 28%) due to high cost of sales during the first half of. In, the segment accounted for approximately 390 million roubles or $12.3 million of direct subsidies, received as a one-time direct compensation subsidy granted by the Government, which offset the cost of sales. Operating expenses as a percentage of gross sales increased to 14% from 12% in mostly due to higher payroll expenses, transportation costs and marketing expenses. Operating Income decreased by 72% to $37.2 million (:

5 $133.5 million), and Operating margin was 4%. Segment Profit in the Poultry division decreased by 72% to $36.8 million (: $129.9 million). Adjusted EBITDA* decreased by 54% to $81.1 million (: $176.1 million), and Adjusted EBITDA* margin was at 10% in compared to 21% in. Pork Division Sales volume in the Pork division in increased by 52% y-o-y to tonnes of live weight, compared to tonnes in. Prices in ruble terms decreased by 14% y-o-y from RUR/kg in to RUR/kg in. Compared to the price of RUR/kg in the third quarter of, the price in the fourth quarter of increased by 1% to RUR/kg. Prices in dollar terms decreased by 16% y-o-y from $2.46/kg in to $2.06/kg in (live weight). Compared to the price of $2.14/kg in the third quarter of, the price in the fourth quarter of increased by 2% to $2.19/kg. Total sales in the Pork division increased by 35% to $ million (: $ million) due mostly to sales volume growth, while price environment was weak during the first half. Record low level of domestic prices and high cost of sales during the first half of the year negatively affected profits in the segment. Gross Profit decreased by 38 % to $ 57.2 million (: $ 92.4 million) and divisional Gross margin decreased to 17% in from 37% in due to a sharp increase in the cost of sales. In, the segment accounted for approximately 372 million roubles or $11.7 million of direct subsidies, received as a one-time direct compensation subsidy granted by the Government, which offset the cost of sales Operating Expenses as a percentage of gross sales increased to 10% in vs. 9% in. Operating Income decreased by 67% to $23.3 million (: $70.7 million), and Operating margin was at 7% in compared to 28% in. Profit in the Pork division decreased by 80% to $12.6 million from $ 63.7 million in. Adjusted EBITDA* of the division decreased by 37% to $ 59.0 million (: $94.0 million), and Adjusted EBITDA* margin was at 17% in compared to 37% in. Meat Processing Division Sales volume in the Meat Processing division increased by 6% y-o-y to tonnes in from tonnes in. Prices in ruble terms were almost flat at RUR/kg in vs RUR/kg in. Compared to the price of RUR/kg in the third quarter of, the price in the fourth quarter of increased by 7% to RUR/kg. Prices in dollar terms decreased by 2% y-o-y to $4.67/kg in compared to $4.77/kg in. Compared to the price of $4.46/kg in the third quarter of, the price in the fourth quarter of increased by 8% to $4.80/kg. Total sales in the Meat Processing division was almost flat reported at $571.6 million (: $568.5 million). Divisional Gross Profit increased by 20% to $140.3 million (: $117.3 million), and divisional Gross margin was a robust 25% in vs. 21% in. Operating Expenses as a percentage of gross sales increased to 15 % in from 13% in, due to higher payroll and transportation expenses. The division generated Operating Income of $52.1 million (: $44.6 million), and Operating margin increased to 9% (: 8%). Profit in the Meat Processing division increased by 13% to $ 41.1 million (: $36.4 million). Adjusted EBITDA* for the division increased by 9.1% to $61.4 million (: $ 56.2 million), and Adjusted EBITDA* margin in the Meat Processing division was at 11% in. Grain Division In Cherkizovo harvested more than tonnes of grain (bunker weight), which is 51% higher than in, reported at about tonnes. Harvest in net weight was at about tonnes in, which is 48% higher than tonnes in. In agricultural season the Company sowed approximately 40 thousand hectares in the Orel and Voronezh regions.

6 Sales volume in the Grain division increased by 24% y-o-y to tonnes in from tonnes in. Wheat, barley and corn accounted for 80% of sales (in tonnes) in. Total sales in the Grain division amounted to $26.8 million in compared to $ 35.8 million in. Divisional Gross Profit decreased by 42% to $8.2 million from $ 14.0 million, while divisional Gross margin decreased to 31% in from 39% previous year. Operating Expenses as a percentage of gross sales increased to 20% in from 13% in due mostly to high payroll expenses. The division generated Operating Income of $2.9 million, and Operating margin was at 11% in vs. 27% in. Profit in the Grain division was $2.0 million vs. $7.2 million in. Adjusted EBITDA* for the division decreased by more than 50% to $ 5.1 million compared to $ 13.8 million in. Adjusted EBITDA* margin in the Grain division was 19% in vs.38% in. Financial Position The Group's capital expenditure on property, plant and equipment and maintenance amounted to $161.1 million in. Of that, $75.8 million was invested into the Poultry division, mainly into breeding and hatching sites and feed mills, as well as slaughter and processing sites as part of the capacity increase projects at the Bryansk and Penza clusters; $36.3 million was invested into the Pork division, mainly in the construction of feed mills and grain storages; $29.0 million was invested into the Meat Processing division (production equipment) $18.0 million was invested into the Grain division (agricultural machinery). Net Debt** at the end of was RUR 24,746.5 million ($756.1 million). Total Debt was RUR 27,526.4 million ($ million). Of Total Debt, long-term debt was approximately $523.8 million, or 62% of the debt portfolio. Short-term debt was $317.2 million, or 38 % of the portfolio. Cost of Debt for was 3%. The portion of subsidized debt in the portfolio was 91% compared to 94% as of. Cash and cash equivalents totalled $ 64.4 million at 31 December. Subsidies The Group received direct subsidies to the amount of RUR 770 million ($24.8 million) as a one-time compensation subsidy granted by the Government. The Group accrued interest reimbursement of RUR 2,163 million ($70.1 million) for which offset the interest expense. Outlook Grain prices are currently at lower levels, which coincide with longstanding price trends. There is a shortage on the pork market because deliveries from Europe have been halted. This enables a price increase on live pigs as well as an increase in pig production; on the other hand, it will also place pressure on manufacturers of sausage products. The markets for chicken meat and sausage products appear saturated enough, and this prevents a price increase. In the face of stiff competition, Cherkizovo Group is planning to focus on marketing, brand development, and the strengthening of sales and logistics in order to maintain high profitability and to increase its share of shelves of stores. Management considers the weakening of rouble as a benefitial factor for the company, as it will make meat imports less competitive in terms of price. As almost all the company's debt and the major part of raw materials are denominated in roubles, no negative effect is expected. Generally, the management of Cherkizovo Group is expecting 2014 to be a year of confident growth and positive results. *Non-GAAP financial measures. This press release includes financial information prepared in accordance with accounting principles generally accepted in the United States of America, or US GAAP, as well as other financial measures referred to as non-gaap. The non-gaap financial measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with US GAAP. Adjusted Earnings before Interest, Income Tax, Depreciation and Amortization ("Adjusted EBITDA"). Adjusted EBITDA represents income before income tax and non-controlling interests adjusted for interest, depreciation and amortization and certain other items as shown in the reconciliation in Appendix 1. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of our net revenues. Our adjusted EBITDA may not be similar to adjusted EBITDA measures of other companies; is not a measurement under accounting principles generally accepted in the

7 United States and should be considered in addition to, but not as a substitute for, the information contained in our consolidated statement of operations. We believe that adjusted EBITDA provides useful information to investors because it is an indicator of the strength and performance of our ongoing business operations, including our ability to fund discretionary spending such as capital expenditures, acquisitions and other investments and our ability to incur and service debt. While depreciation and amortization are considered operating costs under generally accepted accounting principles, these expenses primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. Our adjusted EBITDA calculation is commonly used as one of the bases for investors, analysts and credit rating agencies to evaluate and compare the periodic and future operating performance and value of companies within our industry. Adjusted EBITDA is reconciled to our consolidated statements of operations in Appendix 1. ** Net debt is calculated as total debt minus cash and cash equivalents, short-term bank deposits and long-term bank deposits. *** Cash Conversion rate (CCR) is calculated as Total net cash from operating activities divided by Net income attributable to Group Cherkizovo For price calculation in dollar terms the Company used the average exchange rate for the of 31,848 roubles per 1 US dollar, for the the average rate was roubles per 1 US dollar. For the fourth quarter of the company use exchange rate of per 1 US dollar, for fourth quarter of the company use exchange rate of per 1 US dollar APPENDIX I: KEY DATA AND FIGURES AUDITED 12 months Consolidated Selected Financial Data () (in thousands of US dollars) Meat Processing Poultry Pork Grain Corporate assets/expenditures Interdivision Combined Total Sales ( ) including other sales including sales volume discount (51 744) (29 658) (81 402) Interdivision Sales (229) (16 229) (97 203) (13 428) (36) Sales to external customers (Sales) % of Total sales 34.5% 50.0% 14.6% 0.8% % Cost of Sales ( ) ( ) ( ) (18 566) (525) ( ) Gross profit Gross margin 24.5% 18.0% 16.9% 30.6% 7.2% 21.7% Operating expenses (88 135) ( ) (33 936) (5 283) (26 874) (711) ( ) Operating income (26 833) Operating margin 9.1% 4.4% 6.9% 10.9% - 5.4% Other income and expenses, net (858) (221) (18 757) Financial expenses, net (10 139) (8 812) (10 481) (881) (13 539) (25 095) Division profit / (loss) (26 090) Division profit margin 7.2% 4.4% 3.7% 7.6% 4.0% Supplemental information: - Income Tax expense Depreciation expense Adjusted EBITDA reconciliation Division profit / (loss) (26 090) Add: Interest expense, net (18 757) Interest income (304) (6 189) (310) (11) (17 662) (5 719) Foreign exchange loss/gain (2 116) 534 (1) Depreciation and amortisation Adjusted EBITDA* (25 931) Adjusted EBITDA Margin* 10.7% 9.6% 17.4% 19.1% 10.9% Reconciliation between net division profit and income attributable to Cherkizovo Group Total net division profit Net income attributable to non-controlling interests 189

8 Income taxes (2 121) Net income attributable to Cherkizovo Group CONSOLIDATED INCOME STATEMENT DATA (in thousands of US dollars) (as adjusted)# Sales incl. Sales volume discount (81 402) (70 338) incl. Sales returns (14 863) (14 211) Cost of sales ( ) ( ) Gross profit Gross margin 21.7% 28.8% Operating expenses ( ) ( ) Operating Income Operating margin 5.4% 14.8% Income before income tax and minority interest Net income attributable to Group Cherkizovo Net profit margin 3.9% 14.3% Weighted average number of shares outstanding Earnings per share Net income attributable to Cherkizovo Group per share - basic and diluted 1,47 5,19 Consolidated Adjusted EBITDA reconciliation* Income before income tax and minority interest Add: Interest expense Interest income (5 719) (2 020) Foreign exchange loss/gain, net (136) Depreciation expense Impairment of current assets, subsidies write-offs Consolidated Adjusted EBITDA Adjusted EBITDA Margin 10.9% 20.0%

9 MEAT PROCESSING DIVISION INCOME STATEMENT DATA 31 December (as adjusted)# (in thousands of US dollars) Total Sales Interdivision sales (229) (574) Sales to external customers Cost of sales ( ) ( ) Gross profit Gross margin 24.5% 20.6% Operating expenses (88 135) (72 674) Operating Income Operating margin 9.1% 7.8% Other income and expenses, net (858) Interest expense, net (10 139) (9 590) Division profit Division profit margin 7.2% 6.4% Meat processing division Adjusted EBITDA reconciliation* Division profit Add: Interest expense, net of subsidies Interest income (304) (395) Foreign exchange loss/gain (656) Depreciation and amortisation Meat processing division Adjusted EBITDA* Adjusted EBITDA Margin 10.7% 9.9%

10 POULTRY DIVISION INCOME STATEMENT DATA (in thousands of US dollars) (as adjusted)# Total Sales Interdivision sales (16 229) (33 125) Sales to external customers Cost of sales ( ) ( ) Gross profit Gross margin 18.0% 27.7% Operating expenses ( ) (99 431) Operating Income Operating margin 4.4% 15.8% Other income and expenses, net Interest expenses (8 812) (6 530) Division profit Division profit margin 4.4% 15.4% Poultry division Adjusted EBITDA reconciliation** Division profit Add: Interest expense Interest income (6 189) (5 287) Foreign exchange loss/gain, net (2 116) Depreciation expense Poultry division Adjusted EBITDA Adjusted EBITDA Margin 9.6% 20.9%

11 PORK DIVISION INCOME STATEMENT DATA (in thousands of US dollars) (as adjusted)# Total Sales Interdivision sales (97 203) (75 988) Sales to external customers Cost of sales ( ) ( ) Gross profit Gross margin 16.9% 36.7% Operating expenses (33 936) (21 734) Operating Income Operating margin 6.9% 28.1% Other income and expenses, net (221) Interest expenses (10 481) (8 057) Division profit Division profit margin 3.7% 25.3% Pork division Adjusted EBITDA reconciliation** Division profit Add: Interest expense Interest income (310) (380) Foreign exchange loss/gain, net 534 (136) Depreciation expense Pork division Adjusted EBITDA Adjusted EBITDA Margin 17.4% 37.3%

12 GRAIN DIVISION INCOME STATEMENT DATA (in thousands of US dollars) (as adjusted)# Total Sales Interdivision sales (13 428) (18 357) Sales to external customers Cost of sales (18 566) (21 739) Gross profit Gross margin 30.6% 39.2% Operating expenses (5 283) (4 483) Operating Income Operating margin 10.9% 26.7% Other income and expenses, net Interest expenses (881) (2 507) Division profit/(loss) Division profit margin 7.6% 20.2% Grain division Adjusted EBITDA reconciliation** Division profit/(loss) Add: Interest expense Interest income (11) 9 Foreign exchange loss/gain, net (1) - Depreciation expense Grain division Adjusted EBITDA Adjusted EBITDA Margin 19.1% 38.4%

13 APPENDIX II: CONSOLIDATED INCOME STATEMENT For the year ended (as adjusted)# Sales Cost of sales ( ) ( ) Gross profit Selling, general and administrative expense ( ) ( ) Other operating expense, net (5 762) (1 376) Operating income Other income, net Financial expense, net (25 095) (18 947) Income before income tax Income tax (2 121) Net income Less: Net loss (income) attributable to non-controlling interests 189 (5 761) Net income attributable to Cherkizovo Group Weighted average number of shares outstanding - basic: Net income attributable to Cherkizovo Group per share - basic (in US dollars): Weighted average number of shares outstanding - diluted: Net income attributable to Cherkizovo Group per share -diluted (in US dollars):

14 APPENDIX III: CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER ASSETS Current assets: Cash and cash equivalents Trade receivables, net of allowance for doubtful accounts of and of as of and, respectively Advances paid, net of allowance for doubtful accounts of and as of and, respectively Inventory Deferred tax assets Other receivables, net of allowance for doubtful accounts of 466 and of as of and, respectively Other current assets Total current assets Non-current assets: Property, plant and equipment, net Goodwill Other intangible assets, net Deferred tax assets Notes receivable, net Investments in joint venture Long-term deposits in banks Other non-current assets Total non-current assets Total assets

15 CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER (CONTINUED) LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable Short-term borrowings Tax related liabilities Deferred tax liabilities Payroll related liabilities Advances received Payables for non-current assets Interest payable Other payables and accruals Total current liabilities Non-current liabilities: Long-term borrowings Deferred tax liabilities Tax related liabilities Payables to shareholders Other liabilities Total non-current liabilities Commitments and contingencies Equity: Share capital Additional paid-in capital Treasury shares (2 406) (2 550) Other accumulated comprehensive loss ( ) (72 812) Retained earnings Total shareholders' equity Non-controlling interests Total equity Total liabilities and equity

16 APPENDIX IV: CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER (as adjusted)# Cash flows from (used in) operating activities: Net income Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortisation Bad debt expense Foreign exchange loss (gain) (129) Deferred tax benefit (2 419) (25 396) Loss on disposal of property, plant and equipment Other adjustments, net 147 (1 936) Changes in operating assets and liabilities Decrease (increase) decrease in trade receivables (20 140) Increase in advances paid (12 935) (3 350) Decrease (increase) in inventory (75 431) Increase in other receivables and other current assets (19 960) (5 752) Decrease in other non-current receivables Increase in trade accounts payable Increase in tax related liabilities Increase in other current payables Total net cash from operating activities CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER (CONTINUED) (as adjusted)# Cash flows from (used in) investing activities: Purchases of long-lived assets ( ) ( ) Proceeds from sale of property, plant and equipment Acquisitions of subsidiaries, net of cash acquired (1 130) - Investments in joint venture (3 987) (9 326) Issuance of long-term loans and placing of long-term deposits - (20 796) Repayment on long-term loans issued Placing of deposits and issuance of short-term loans (51 432) (564) Repayment of short-term loans issued and redemption of deposits Total net cash used in investing activities ( ) ( ) Cash flows from (used in) financing activities: Proceeds from long-term loans Repayment of long-term loans ( ) ( ) Proceeds from long-term loans from related parties Repayment of long-term loans from related parties (6 984) (7 709) Proceeds from short-term loans Repayment of short-term loans ( ) ( ) Purchase of treasury stock - (2 523) Acquisitions of entities under common control and non-controlling interests (1 030) (22 092) Total net cash used in financing activities (22 373) Total cash from (used in) operating, investing and financing activities Impact of exchange rate difference on cash and cash equivalents (6 166) Net increase in cash and cash equivalents: Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Supplemental Information: Income taxes paid Interest paid Subsidies for compensation of interest expense received Non cash transactions: Property, plant and equipment acquired through vendor financing Settlement of acquisition of entities under common control with treasury shares

17 # As required by US GAAP, comparative information for the year ended has been retrospectively adjusted for a change in accounting principle.

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