DIXY GROUP ANNOUNCES CONSOLIDATED UNAUDITED IFRS RESULTS FOR THE FIRST HALF OF 2011

PRESS RELEASE DIXY GROUP ANNOUNCES CONSOLIDATED UNAUDITED IFRS RESULTS FOR THE FIRST HALF OF 2011 Moscow, September 20, 2011 DIXY Group (RTS, MICEX: DIXY) one of Russia s leading retailers of foods and everyday products - announces consolidated unaudited IFRS results for the first half of 2011. Main Events of the First Half of 2011 1) In June 2011 DIXY Group acquired 100% of shares of Victoria Group (please see http://www.dixy.ru/uploads/2011-06-20_dixy_release_eng.pdf). As a result of this transaction, the DIXY Group increased turnover by more than 50% and became the third largest among Russian national food retail operators by revenue, selling area and number of stores. Acquisition of Victoria retail chain significantly strengthened the DIXY Group s competitive positions in the two key regional markets: Russia s Central and Northwestern Federal Districts and allowed to gain access to new regional markets in Kaliningrad and Tula regions. Due to a significant increase of scale in the trade operations, DIXY Group will be able to significantly improve purchasing terms and to realize the existing potential with regard to optimization of logistics and transportation costs at the united Company. 2) DIXY Group started to implement new marketing strategy encompassing full marketing operation flow including, pricing, assortment management, loyalty programs, standards of service and communications, external and internal design of stores. In the first half of 2011 the Company started a redesign of the DIXY chain s brand identity, and on 1 June 2011 launched a nationwide advertising campaign aimed to develop a more striking, modern, and memorable company brand and clearer positioning (please see http://www.dixy.ru/uploads/2011-05- 31_Dixy_Press-Release_ENG.pdf ). 3) DIXY Group shares were included into the RTS Index (RTSI) and into the MICEX Consumer Goods and Services Index (MICEX CGS) based on capitalization and liquidity criteria. 1

Key Results of the First Half of 2011 During the first half of 2011, the combined Company opened 94 new DIXY stores, including 93 neighborhood stores (DIXY and Kvartal) and 1 supermarket Victoria. All new stores were opened in the Central, North-Western and Urals Federal Districts through long-term lease agreements, except for one acquired store (DIXY format in Yaroslavl). In the first half of 2011 the combined Company demonstrated positive revenue dynamics yearon-year (revenue growth of 27.6% according to the DIXY Group consolidated financial statements), as well as a significant increase in gross margin, EBITDA margin and net profit margin over the same period last year. Positive revenue dynamics for the combined Company is a result of the increase of selling space of the DIXY Group on the pro-forma basis (including Victoria Group results from the beginning of the year) by 10% (including 11% growth of selling space of the DIXY Group standalone and 6% increase of the Victoria Group standalone selling space) and like-for-like (LFL) sales growth over the same period last year. During the first half of 2011, DIXY Group LFL sales grew by 7.8% in RUR (7.6% for the first quarter, and 8.0% for the second quarter of 2011). You can find details at http://www.dixy.ru/uploads/release_dixy_6mo_sales_eng_v2.pdf Victoria Group LFL sales during the first half of 2011 grew by 6.1% in RUR (5.4% for the first quarter, and 6.9% for the second quarter of 2011). You can find details at http://www.dixy.ru/uploads/release_dixy_7mo_sales_eng_v12.pdf Significant increase in gross margin and EBITDA margin for the first half of 2011 is a result of improved pricing and flexible front margin management started from the beginning of 2011, as well as a positive effect of the efforts aimed at decreasing cost of sales and focus on operational costs management. Sales per square meter of selling space on the combined Company level have increased by 11% over the same period last year. In the first half of 2011 DIXY Group continued to implement initiatives launched by the new marketing team that joined DIXY in autumn of 2010. These initiatives include optimization of assortment and floor space, improvement of external and internal design of stores and their clearer positioning, as well as improvement of customer service and marketing communications. These efforts have led to an increased number of middle class consumers visiting DIXY Group stores and to a progressive acceleration of sales growth over the same period last year throughout the first half of 2011. The efficiency of the promotional activities targeting sales growth was made possible also by means of increased levels of centralization of deliveries (rate of deliveries through own distribution centers) and logistical service (success of delivery rate). DIXY format centralization rate has reached 84% in the second quarter of 2011, and general logistics service level has reached 88%. 2

DIXY Group Financial Results for the First Half of 2011 DIXY Group unaudited consolidated IFRS results for the first half of 2011 include Victoria Group IFRS results, beginning from the date of acquisition on 15 June 2011. This type of reporting of consolidated financial results for DIXY Group will be used in all future releases. However, in order to facilitate understanding of the combined Company business, we present in the current release several additional types of IFRS financial results reporting. Current release discloses in detail the following: 1. DIXY Group unaudited standalone IFRS financial results, not including Victoria Group results We also present for reference: 2. Victoria Group unaudited standalone IFRS financial results Financial results and their period-on-period comparison are presented for reference, since Victoria Group results cannot be compared period-on-period directly, since Victoria Group results for the first half of 2011 and second quarter of 2010 do not include results of Tula region (retail chain Semeynaya Kopilka was acquired on 18.08.2010), reported in 2011. 3. DIXY Group unaudited consolidated financial results, including Victoria Group results from the date of acquisition on 15 June 2011 Financial results and their period-on-period comparison are presented for reference, since 1) Victoria Group results are included into DIXY Group results only from 15 June 2011 (acquisition date) and do not have a significant effect on DIXY Group financial results for the first half of 2011, 2) consolidated results are preliminary because some items, such as goodwill, NMA, PPE, deferred taxes, favorable/unfavorable lease obligations are based on a preliminary auditor estimates, and can be changed later upon finalization of the valuation. All changes will be reflected in the audited IFRS financial statements for the full year of 2011. 3) Victoria Group results, included into DIXY Group results, cannot be compared directly period-on-period since Victoria Group results for the first half of 2011 and second quarter of 2010 do not include results of Tula region (retail chain Semeynaya Kopilka was acquired on 18.08.2010) these results are reported in 2011. 4. DIXY Group unaudited pro-forma interim financial statements, including Victoria results from the beginning of the year Corresponding three reporting forms are presented for reference in the Appendix to this release. Pro-forma financial statements differ from a simple sum of financial results of DIXY Group and Victoria Group in particular because of a change in reporting policy regarding recognition of sales through agent agreements in Kaliningrad region (please refer to Page 6 of the Notes to the Pro-forma Interim Financial Statements that can be found at the DIXY site please see Investor Relations, IFRS Statements at http://www.dixy.ru/en_ir-ifrs/ You can find unaudited IFRS financial statements (three forms) in English in the Appendix to this release. Unaudited IFRS financial statements with notes can be found at the DIXY site please see Investor Relations, IFRS Statements at http://www.dixy.ru/en_ir-ifrs/ 3

1. DIXY GROUP UNAUDITED STANDALONE FINANCIAL RESULTS, NOT INCLUDING VICTORIA GROUP RESULTS First Half of 2011 Year-on-year Revenue in RUR increased by 21.8% (28.0% in USD) to RUR 37.4 bln. (USD 1.3 bln). Gross Profit in RUR increased by 29.3% (35.8% in USD) to RUR 9.4 bln. (USD 328 mln). Gross Margin increased by 140 bp year-on-year to 25.1% of sales compared to 23.7% for the same period of 2010. EBITDA in RUR increased by 39.4% (46.4% in USD) to RUR 2.5 bln. (USD 86 mln). EBITDA margin increased by 80 bp year-on-year to the level of 6.6% from 5.8% in the same period of 2010. Net Profit in RUR increased by 340.3% (362.5% in USD) year-on-year and amounted to RUR 555 mln. (USD 19 mln). Net Margin increased by 110 bp year-on-year to 1.5% of sales from 0.4% of sales over the same period last year. Net Cash from Operating Activities in RUR increased by 63.2% (71.4% in USD) over the same period of 2010 to RUR 1.3 bln. (USD 46 mln). Second Quarter of 2011 Year-on-year Revenue in RUR increased by 23.3% (32.4% in USD) to RUR 19.4 bln. (USD 688 mln). Gross Profit in RUR increased by 33.4% (43.6% in USD) to RUR 5.1 bln. (USD 181 mln). Gross Margin increased by 200 bp year-on-year to 26.3% of sales compared to 34.2% for the same period of 2010. EBITDA in RUR increased by 48.5% (59.1% in USD) to RUR 1.5 bln. (USD 52 mln). EBITDA margin increased by 130 bp year-on-year to the level of 7.5% from 6.3% in the same period of 2010. Net Profit in RUR amounted to RUR 390 mln. (USD 14 mln) for a Net Margin of 1.5% of sales compared to a net loss for the same period of 2010. Net Cash from Operating Activities in RUR increased by 25.1% (35.1% in USD) over the same period of 2010 to RUR 627 mln. (USD 22 mln). 4

DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Income Statement Highlights. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 19,414 15,745 23.3% 37,389 30,692 21.8% incl. Retail 19,288 15,644 23.3% 37,155 30,494 21.8% Cost of Sales 14,337 11,939 20.1% 27,991 23,422 19.5% as % of Sales 73.9% 75.8% 74.9% 76.3% Gross Profit 5,077 3,805 33.4% 9,399 7,270 29.3% as % of Sales 26.1% 24.2% 25.1% 23.7% EBITDA 1,459 983 48.5% 2,465 1,768 39.4% EBITDA, % 7.5% 6.2% 6.6% 5.8% Operating Profit 869 539 61.2% 1 413 900 57.1% as % of Sales 4.5% 3.4% 3.8% 2.9% Net Profit 390-3 - 554 126 340% as % of Sales 2.0% 0.0% 1.5% 0.4% DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Revenue by Format. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 19,414 15,745 23,3% 37,389 30,692 21,8% incl. Retail 19,288 15,644 23,3% 37,155 30,494 21,8% By Format DIXY 16,689 13,313 25,4% 32,172 25,985 23,8% MEGAMART 1,978 1,770 11,7% 3,813 3,448 10,6% MINIMART 621 561 10,7% 1,169 1,061 10,2% Gross Profit 5,077 3,805 33,4% 9,399 7,270 29,3% as % of Sales 26,1% 24,2% 25,1% 23,7% DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Cost of Sales. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Cost of Goods Sold 13,801 11,557 19.5% 27,008 22,605 18.6% as % of Sales 71.1% 73.4% 72.2% 73.7% Transportation Costs 111 72 54.8% 179 140 28.2% as % of Sales 0.6% 0.5% 0.5% 0.5% Shrinkage of Inventories 426 311 37.0% 804 677 18.7% as % of Sales 2.2% 2.0% 2.1% 2.2% TOTAL 14,337 11,940 20.1% 27,991 23,422 19.5% as % of Sales 73.9% 75.8% 74.9% 76.3% 5

DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Selling, General & Administrative Expenses (SG&A). RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Salaries 1,920 1,508 27.3% 3,751 2,941 27.5% as % of Sales 9.9% 9.6% 10.0% 9.6% Lease Expenses 795 623 27.5% 1,531 1,219 25.6% as % of Sales 4.1% 4.0% 4.1% 4.0% D&A 477 444 7.3% 938 869 8.0% D&A, % 2.5% 2.8% 2.5% 2.8% Utilities, Repair and Maintenance Expenses 371 303 22.6% 704 561 25.5% as % of Sales 1.9% 1.9% 1.9% 1.8% Transportation and Handling Expenses 17 17-4.6% 32 28 14.1% as % of Sales 0.1% 0.1% 0.1% 0.1% Advertising Expenses 103 68 51.5% 158 121 30.7% as % of Sales 0.5% 0.4% 0.4% 0.4% Other Expenses 526 303 73.7% 871 633 37.7% as % of Sales 2.7% 1.9% 2.3% 2.1% TOTAL SG&A 4,208 3,266 28.8% 7,985 6,371 25.3% as % of Sales 21.7% 20.7% 21.4% 20.8% Selling, General & Administrative Expenses for the first quarter of 2011 increased by 27.5% year-onyear, while increasing as a percentage of Revenue by 60 bp over the same period of 2010 from 20.8% to 21.4% of Revenue. This was largely due to Salaries Expense increase by 50 bp from 9.6% to 10.0% of Revenue as a result of social tax increase. Lease Expenses for the first half of 2011 increased by 10 bp to 4.1% of Revenue as a result of increase in the number of leased properties and rent indexation, and Utilities, Repair & Maintenance Expenses increased by 10 bp, largely due to increases in electrical power tariffs. However, the increase in separate items of SGNA was offset by a positive dynamics of decreasing expenses in other items. Depreciation and Amortization decreased by 30 bp over the same period last year to 2.5% of Revenue. Also, Advertising Expense decreased decreased by 10 bp to 0.3% of Revenue. DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Non-operating Gains and Losses.* RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Operating Profit 869 539 61.2% 1 413 900 57.1% Finance Costs (Net) (221) (551) -59.8% (443) (359) 23.3% Net FX Result (9) (235) -96.3% (10) (95) 89.6% Profit before Tax 649 145 347% 981 465 111% Income Tax Expense (258) (148) 74.7% (426) (338) 25.9% Net Profit 390 (3) - 554 126 339% Net Margin, % 2.0% 0.0% - 1.5% 0.4% *effective tax rate for the first half of 2011 is 43% 6

DIXY Group Unaudited Standalone IFRS Financial Results, Not Including Victoria Group Results. Cash Flow Statement Highlights. RUR, mln. 1H 2011 1H 2010 % Net Cash Flows (Used in)/generated from Operating Activities 1,308 802 63.2% Net Cash from Operating Activities before Changes in Working Capital 2,486 1,739 43.0% Change in Working Capital (279) (141) 98.3% Net Interest and Income Tax Paid (899) (797) 12.9% Net Cash Used in Investing Activities (15,464) (598) - Net Cash Generated from/(used in) Financing Activities 13 426 (1,001) - Effect of Exchange Rate Changes on Cash & Cash Equivalents Net Increase/(Decrease) in Cash & Cash Equivalents Cash and Cash Equivalents at the End of the Period (10) (95) -89.6% (730) (797) - 866 535 62.1% 7

2. FOR REFERENCE. VICTORIA GROUP UNAUDITED STANDALONE IFRS FINANCIAL RESULTS Financial results and their period-on-period comparison are presented for reference, since direct period-on-period comparison of Victoria Group results, included into DIXY Group results cannot be compared directly, since Victoria Group results for the first half of 2011 and second quarter of 2010 do not include results of Tula region (retail chain Semeynaya Kopilka was acquired on 18.08.2010) these results are reported in 2011. First Half of 2011 Year-on-year Revenue in RUR increased by 22.6%to RUR 19.5 bln. Gross Profit in RUR increased by 23.5% to RUR 6.2 bln. Gross Margin increased by 30 bp year-onyear to 31.8% of sales compared to 31.5% for the same period of 2010. EBITDA in RUR decreased by 14.7% to RUR 1.4 bln. EBITDA margin decreased by 50 bp year-onyear to the level of 7.2% from 7.7% for the same period of 2010. Net Profit in RUR increased by 30.0% year-on-year and amounted to RUR 471 mln. Net Margin increased by 10 bp year-on-year to 2.4% of sales from 2.3% of sales over the same period last year. Second Quarter of 2011 Year-on-year Revenue in RUR increased by 21.4% to RUR 9.7 bln. Gross Profit in RUR increased by 34.0% to RUR 3.4 bln. Gross Margin increased by 320 bp year-onyear to 34.5% of sales compared to 31.3% for the same period of 2010. EBITDA in RUR increased by 6.6% to RUR 684 mln. EBITDA margin decreased by 100 bp year-onyear to the level of 7.0% from 8.0% in the same period of 2010. Net Profit in RUR decreased by 0.8% to RUR 223 mln. Net Margin decreased by 50 bp to 2.3% of sales from 2.8% for the same period of 2010. Victoria Group Unaudited Standalone IFRS Financial Results. Income Statement Highlights Victoria Group. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 9,707 7,994 21.4% 19,558 15,948 22.6% incl. Retail 9,639 7,736 24.6% 19,023 15,435 23.2% Cost of Sales 6,352 5,489 15.7% 13,334 10,909 22.2% as % of Sales 65.4% 68.6% 68.1% 68.4% Gross Profit 3,355 2,505 34.0% 6,224 5,039 23.5% as % of Sales 34.5% 31.3% 31.8% 31.5% EBITDA 684 642 6.6% 1,411 1,231 14.7% EBITDA, % 7.0% 8.0% 7.2% 7.7% Operating Profit 455 481-5.5% 950 828 14.7% as % of Sales 4.7% 6.0% 4.9% 5.2% Net Profit 223 225-0.8% 471 362 30.0% as % of Sales 2.3% 2.8% 2.4% 2.3% 8

Victoria Group Unaudited Standalone IFRS Financial Results. Revenue by Format. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 9,707 7,994 21.4% 19,558 15,948 22.6% incl. Retail 9,639 7,736 24.6% 19,023 15,435 23.2% Kvartal/Deshevo/Kopilka 6,843 5,207 31.4% 13,176 10,433 26.3% Victoria 2,680 2,413 11.1% 5,582 4,784 16.7% CASH 116 116-0.3% 264 218 20.9% Gross Profit 3,355 2,505 34.0% 6,224 5,039 23.5% as % of Sales 34.5% 31.3% 31.8% 31.5% Victoria Group Unaudited Standalone IFRS Financial Results. Cost of Sales. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Cost of Goods Sold 6,217 5,216 19.2% 13,022 10,449 24.6% as % of Sales 64.0% 65.2% 66.5% 65.5% Transportation Costs 42 125-66.1% 55 145-62.1% as % of Sales 0.4% 1.5% 0.3% 0.9% Shrinkage of Inventories 92 148-37.4% 258 315-18.1% as % of Sales 0.9% 1.8% 1.3% 1.9% TOTAL 6,352 5,489 15.7% 13,334 10,909 22.2% as % of Sales 65.4% 68.6% 68.1% 68.4% Victoria Group Unaudited Standalone IFRS Financial Results. Selling, General & Administrative Expenses (SG&A). RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Salaries 1,581 1,131 39.7% 2,716 2,123 27.9% as % of Sales 16.3% 14.1% 13.9% 13.3% Lease Expenses 481 399 20.4% 951 767 24.0% as % of Sales 5.0% 5.0% 4.9% 4.8% D&A 229 161 42.4% 461 402 14.7% D&A, % 2.4% 2.0% 2.4% 2.5% Utilities, Repair and Maintenance Expenses 289 185 56.5% 532 338 57.6% as % of Sales 3.0% 2.3% 2.7% 2.1% Transportation and Handling Expenses 57 60-3.9% 127 103 23.2% as % of Sales 0.6% 0.8% 0.6% 0.6% Advertising Expenses 48 40 19.4% 90 88 2.6% as % of Sales 0.5% 0.5% 0.5% 0.5% Other Expenses 384 207 85.9% 736 699 5.3% as % of Sales 4.0% 2.6% 3.8% 4.4% TOTAL SG&A 3,069 2,183 40.6% 5,613 4,520 24.2% as % of Sales 31.6% 27.3% 28.7% 28.3% 9

Victoria Group Unaudited Standalone IFRS Financial Results. Non-operating Gains and Losses.* RUR, mln. 1H 2011 1H 2010 % Operating Profit 950 828 14.7% Finance Costs (Net) (208) (277) -12.9% Net FX Result (58) 51 -- Profit before Tax 725 687 5.5% Income Tax Expense (254) (325) -21.7% Net Profit 471 362 30.0% Net Margin, % 2.4% 2.3% *effective tax rate for the first half of 2011 is 35% Victoria Group Unaudited Standalone IFRS Financial Results. Cash Flow Statement Highlights. RUR, mln. 1H 2011 1H 2010 % Net Cash Flows (Used in)/generated from Operating Activities 409 869-52.9% Net Cash from Operating Activities before Changes in Working Capital 1,658 1,498 10.6% Change in Working Capital (714) (113) 732% Net Interest and Income Tax Paid (535) (516) 3.6% Net Cash Used in Investing Activities (369) (87) 323% Net Cash Generated from/(used in) Financing Activities 197 (547) -- Effect of Exchange Rate Changes on Cash & Cash Equivalents (58) 51 -- Net Increase/(Decrease) in Cash & Cash Equivalents 238 235 1.2% Cash and Cash Equivalents at the End of the Period 1,052 1,420-25.9% 10

3. FOR REFERENCE. DIXY GROUP UNAUDITED CONSOLIDATED FINANCIAL RESULTS, INCLUDING VICTORIA GROUP RESULTS FROM THE DATE OF ACQUISITION ON 15 JUNE 2011 Financial results and their period-on-period comparison are presented for reference, since 1) Victoria Group results are included into DIXY results only from 15 June 2011 (acquisition date) and do not have a significant effect on DIXY Group financial results for the first half of 2011, 2) consolidated results are preliminary because some items, such as goodwill, NMA, PPE, deferred taxes, favorable/unfavorable lease obligations are presented based on a preliminary auditor estimates, and can be changed later upon finalization of the valuation. 3) Victoria Group results, included into DIXY Group results, cannot be compared directly period-onperiod since Victoria Group results for the first half of 2011 and second quarter of 2010 do not include results of Tula region (retail chain Semeynaya Kopilka was acquired on 18.08.2010) these results are reported in 2011. First Half of 2011 Revenue in RUR increased by 27.6% to RUR 39.2 bln. Gross Profit in RUR increased by 36.8% to RUR 10.0 bln. Gross Margin increased by 170 bp year-onyear to 25.4% of Revenue compared to 23.7% for the same period of 2010. EBITDA in RUR increased by 43.3% to RUR 2.5 bln. EBITDA Margin increased by 70 bp year-on-year to the level of 6.5% of Revenue from 23.7% for the same period of 2010. Net Profit in RUR increased by 342.3% year-on-year and amounted to RUR 557 mln. Net Margin increased by 100 bp to 1.4% of Revenue compared to 0.4% over the same period last year. Second Quarter of 2011 year-on-year Revenue in RUR increased by 34.6% to RUR 21.2 bln. Gross Profit in RUR increased by 47.8% to RUR 5.6 bln. Gross Margin increased by 230 bp year-onyear to 26.5% of Revenue compared to 24.2% for the same period of 2010. EBITDA in RUR increased by 55.5% to RUR 1.5 bln. EBITDA Margin increased by 100 bp year-onyear to the level of 7.2% of Revenue from 6.2% for the same period of 2010. Net Profit in RUR reached 393 mln. compared to the Net Loss over the same period last year. Net Margin amounted to 1.9% of Revenue compared to a Net Loss for the same period last year. DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Income Statement Highlights. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 21,193 15,745 34.6% 39,169 30,692 27.6% incl. Retail 21,035 15,644 34.5% 38,902 30,494 27.6% Cost of Sales 15,570 11,940 30.4% 29,224 23,422 24.8% as % of Sales 73.5% 75.8% 74.6% 76.3% Gross Profit 5,623 3,805 47.8% 9,945 7,270 36.8% as % of Sales 26.5% 24.2% 25.4% 23.7% EBITDA 1,528 983 54.5% 2,533 1,768 43.3% EBITDA, % 7.2% 6.2% 6.5% 5.8% Operating Profit 875 539 62.4% 1,419 900 57.8% as % of Sales 4.1% 3.4% 3.6% 2.9% Net Profit 393 (3) - 557 126 342.3% as % of Sales 1.9% 0.0% 1.4% 0.4% 11

DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Revenue by Format. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Revenue 21,193 15,745 34.6% 39,169 30,692 27.6% incl. Retail 21,035 15,644 34.5% 38,902 30,494 27.6% Neighborhood DIXY 16,689 13,313 25.4% 32,172 25,985 23.8% Kvartal/Deshevo/Kopilka 1,210-1,210 - Supermarket Victoria 513-513 - Minimart 621 561 10.7% 1,169 1,061 10.2% Hypermarket Megamart 1,978 1,770 11.7% 3,813 3,448 10.6% Cash&carry CASH 24-24 - Gross Profit 5,623 3,805 47.8% 9,945 7,270 36.8% as % of Sales 26.5% 24.2% 25.4% 23.7% DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Cost of Sales. RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Cost of Goods Sold 14,985 11,557 29.7% 28,193 22,605 24.7% as % of Sales 77.2% 73.4% 72.0% 73.7% Transportation Costs 117 72 63.8% 186 140 32.8% as % of Sales 0.6% 0.5% 0.5% 0.5% Shrinkage of Inventories 468 311 50.5% 845 677 24.9% as % of Sales 2.4% 2.0% 2.3% 2.2% TOTAL 15,570 11,940 30.4% 29,224 23,422 24.8% as % of Sales 73.5% 75.8% 74.6% 76.3% DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Selling, General & Administrative Expenses (SG&A). RUR, mln. 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Salaries 2,124 1,508 40.9% 3,955 2,941 34.5% as % of Sales 10.0% 9.6% 10.1% 9.6% Lease Expenses 870 623 39.6% 1,607 1,219 31.9% as % of Sales 4.1% 4.0% 4.1% 4.0% D&A 539 444 21.4% 1,000 869 15.1% D&A, % 2.5% 2.8% 2.6% 2.8% Utilities, Repair and Maintenance Expenses 416 303 37.2% 748 561 33.4% as % of Sales 2.0% 1.9% 1.9% 1.8% Transportation and Handling Expenses 27 17 54.3% 42 28 50.4% as % of Sales 0.1% 0.1% 0.1% 0.1% Advertising Expenses 109 68 59.8% 164 121 35.3% as % of Sales 0.5% 0.4% 0.4% 0.4% Other Expenses 663 303 119.0% 1,008 633 59.3% as % of Sales 3.1% 1.9% 2.6% 2.1% TOTAL SG&A 4,748 3,266 45.4% 8,525 6,371 33.8% as % of Sales 22.4% 20.7% 21.8% 20.8% 12

DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Non-operating Gains and Losses.* RUR, mln. 1H 2011 1H 2010 % Operating Profit 1,419 900 57.8% Finance Costs (Net) (462) (359) 28.7% Net FX Result (10) (95) -89.3% Profit before Tax 971 465 109% Income Tax Expense (413) (338) -22.2% Net Profit 557 126 341% Net Margin, % 0.9% 0.4% *effective tax rate for the first half of 2011 is 42% DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group Results from the Date of Acquisition on 15 June 2011. Cash Flow Statement Highlights. RUR, mln. 1H 2011 1H 2010 % Net Cash Flows (Used in)/generated from Operating Activities 1,308 802 63.2% Net Cash from Operating Activities before Changes in Working Capital 2,555 1,739 46.9% Change in Working Capital (348) (140) 149% Net Interest and Income Tax Paid (899) (797) 12.9% Net Cash Used in Investing Activities (14,412) (598) -- Net Cash Generated from/(used in) Financing Activities 13,426 (1,001) -- Effect of Exchange Rate Changes on Cash & Cash Equivalents (10) (95) -89.3% Net Increase/(Decrease) in Cash & Cash Equivalents 321 (797) -- Cash and Cash Equivalents at the End of the Period 1,918 535 259% 13

KEY STATISTICS OF THE COMBINED COMPANY FOR THE FIRST HALF OF 2011 Key Operational Statistics 1H 2011 1H 2010 % Total Number of Stores 971 819 19% New Store Openings* 94 45 109% DIXY Group 82 41 100% Victoria Group 12 4 200% Total Space, sqm 825,487 755,782 9% Total Selling Space, sqm 363,618 330,433 10% Neighborhood Stores 288,257 260,065 DIXY 202,927 177,235 14% Kvartal/Deshevo/Kopilka 85,330 82,830 3% Supermarkets 42,189 37,196 Victoria 36,703 31,710 16% Minimart 5,486 5,486 -- Hypermarkets 33,172 33,172 Megamart 30,121 30,121 -- CASH 3,051 3,051 -- Total Number of Permanent Employees 32,427 30,673 5% DIXY Group 18,649 17,479 7% Victoria Group 13,427 13,194 2% Average Basket Size by Format (VAT included) RUR 2Q 2011 2Q 2010 % 1H 2011 1H 2010 % Neighborhood Stores 229 208 10% 234 213 10% DIXY 233 212 10% 237 216 10% Kvartal/Deshevo/Kopilka 221 201 10% 228 208 10% Supermarkets 447 421 6% 460 431 7% Victoria 460 436 5% 474 446 6% Minimart 393 360 9% 397 366 8% Hypermarkets 568 538 6% 579 551 5% Megamart 525 495 6% 532 508 5% Cash&carry CASH 2,131 1,859 15% 2,250 1,841 22% Number of Stores and Store Openings Number of stores as of 30 June 2011 Number of New Store Openings* Neighborhood Stores DIXY 692 82 Kvartal/Deshevo/Kopilka 235 11 Supermarkets Victoria 20 1 Minimart 8 0 Hypermarkets Megamart 15 0 Cash&carry CASH 1 0 TOTAL 971 94 * For the period from 01.01.2011 to 30. 06.2011 there were closed 13 DIXY stores and 13 Kvartal stores. 14

Combined Company Debt (Pro-forma) as of 30 June 2011 As of 30 June 2011 % of Total Total debt* 17,986,046 Short-term Debt 5,078,468 28% Long-term Debt 12,907,578 72% Net Debt 16,495,697 Net Debt/EBITDA 2.28 *Total debt does not include financial lease obligations Exchange rates (Central Bank of the Russian Federation) 30 June 2011 30 June 2010 RUR/USD eop 27.9846 31.1687 2011 2010 RUR / USD average (six months) 30.0676 28.6242 15

OJSC DIXY Group (RTS, MICEX: DIXY) is one of Russia s leading retailers of foods and everyday products. The first DIXY store opened in 1999 in Moscow and, after the period of intense organic development and purchase of Victoria Group in June, 2011, as of August 31, 2011, the Group operated 994 stores, including 721 DIXY neighborhood stores, 228 stores under the Kvartal, "Deshevo", Semeynaya Kopilka brands, 20 Victoria supermarkets, 16 MEGAMART (compact hypermarket) stores, 8 MINIMART (supermarket) stores and 1 CASH (cash&carry) store. The Company operates in three Federal Districts of Russia: Central, Northwest, Urals, and in Kaliningrad region. As of August 31, 2011, the Company had a total of 369,431 square meters of selling space. The Company is the third largest among Russian national retail operators in the food retail market by revenue, selling area and number of stores and employs over 32,000 people. In May 2007 the Company raised USD 360 million in its IPO on the RTS and MICEX. A controlling stake in DIXY Group, OJSC (54.4%) is owned by the Mercury Group of Companies, a diversified holding company. In 2010, DIXY's total revenue reached RUR 64.7 billion, Victoria s total revenue reached RUR 34 billion. The Russian business magazine Expert rates DIXY Group as one of the Top-100 largest Russian companies. Contacts: Olga Popova Head of Investor Relations, DIXY Group Tel: +7 495 933 1450 Fax: + 7 495 933-0259 Mobile: +7 985 265 2660 Email: O.Popova@hq.dixy.ru http://www.dixy.ru/ Lavrentiy Gubin Press Representative DIXY Group Tel: + 7 495 933-1450 Fax: + 7 495 933-0259 Mobile: +7 910 467-5894 E-mail: l.gubin@hq.dixy.ru http://www.dixy.ru/ 16

APPENDIX 1. DIXY Group Unaudited Standalone IFRS Financial Statements (Not Including Victoria Group) 1.1. BALANCE SHEET In thousands of Russian Roubles ASSETS 30 Jun 2011 31 Dec 2010 Non-current assets Property, plant and equipment 13 800 828 12 835 446 Capital advances 1 029 887 942 112 Goodwill 358 478 358 478 Other Intangible assets 271 442 298 851 Initial lease costs 124 477 144 205 Loans 4 725 5 047 Trade and other receivables - 2 724 Deferred tax asset 455 948 397 482 Investment in equity 19 852 929 35 898 714 14 984 345 Current assets Inventories 3 850 457 3 873 123 Trade and other receivables 1 530 935 1 514 900 Taxes recoverable and prepayments 1 167 238 1 113 736 Loans 114 371 134 066 Initial lease costs 37 502 45 446 Cash and cash equivalents 866 360 1 596 680 7 566 863 8 277 951 TOTAL ASSETS 43 465 577 23 262 296 EQUITY AND LIABILITIES Equity attributable to equity holders of the Parent Share capital 1 248 860 Additional paid-in capital 20 437 555 4 111 405 Retained earnings 2 470 638 1 916 147 22 909 441 6 028 412 Non-controlling interest - - TOTAL EQUITY 22 909 441 6 028 412 Non-current liabilities Bonds - - Borrowings 8 042 502 6 038 938 Finance leases 152 974 242 377 Deferred tax liability 229 466 234 733 8 424 942 6 516 048 Current liabilities Trade and other payables 7 005 426 7 208 994 Borrowings 4 486 693 6 442 Current portion of Bonds - 2 929 452 Finance leases 146 709 161 878 Advances from customers 98 770 69 270 Tax liability, other than income taxes 332 434 278 217 Income taxes payable 59 954 62 375 Provisions for liabilities and charges 1 208 1 208 12 131 194 10 717 836 20 556 136 17 233 884 TOTAL EQUITY AND LIABILITIES 43 465 577 23 262 296 17

1.2. INCOME STATEMENT In thousands of Russian Roubles 1H 2011 1H 2010 Continuing operations Revenue 37 389 354 30 691 996 Cost of sales (27 990 793) (23 421 526) Cost of goods sold (27 008 126) (22 604 828) Transportation costs (179 055) (139 664) Shrinkage of inventories (803 612) (677 034) Gross profit 9 398 561 7 270 470 General and administrative expenses (7 985 051) (6 370 932) Operating profit 1 413 510 899 538 Finance income 19 666 18 995 Finance costs (442 777) (359 048) Foreign exchange (loss)/gain, net (9 877) (94 960) Profit/ (loss) before income tax 980 522 464 525 Income tax expense (426 030) (338 285) Profit for the year 554 492 126 240 Total comprehensive profit for the year 554 492 126 240 Attributable to: Equity holders of the Parent 554 491 125 941 Equity holders of the non-controlling interest - 299 554 491 126 240 18

1.3. CASH FLOW STATEMENT In thousands of Russian Roubles 1H 2011 1H 2010 Cash flows from operating activities : Profit/(loss) before income tax 980 522 464 525 Adjustments for: Depreciation of property, plant and equipment 874 828 779 139 Аmortisation of intangible assets 31 452 40 453 Amortisation of initial lease costs 31 471 49 060 Gain less losses on disposals of property, plant and equipment and intangible assets (2 119) (27 807) Increase in provision for impairment of taxes recoverable and prepayments 2 849 5 112 Increase in provision for impairment of trade and other receivables 21 119 5 433 Reversal of write-down of inventory to net realizable value (421) (11 983) Finance costs 442 776 359 048 Interest income on loans and cash deposits (19 667) (18 995) Provision for impairment of assets 113 662 - Unrealised foreign exchange losses/(gains) on borrowings 9 877 94 960 Operating cash flows before working capital changes 2 486 349 1 738 945 Decrease/(increase) in trade and other receivables (35 676) 86 644 Decrease in inventories 23 089 402 580 (Increase)/decrease in taxes recoverable and prepayments (146 841) (18 318) Decrease in trade and other payables (203 567) (660 116) Increase in tax liabilities other than income tax 54 217 83 314 Decrease in advances from customers 29 500 (34 924) Cash generated from operations 2 207 072 1 598 126 Income taxes paid (415 085) (418 770) Interest paid (484 129) (377 790) Net cash from operating activities-continuing operations 1 307 858 801 566 Net cash from operating activities-discontinued operations Net cash from operating activities 1 307 858 801 566 Cash flows from investing activities: Purchase of property, plant and equipment (2 078 609) (632 943) Proceeds from sale of property, plant and equipment 67 731 42 418 Initial Lease costs paid (3 799) (3 959) Loans repaid 547 984 378 061 Disbursement of loans (529 800) (380 595) Interest received 13 066 11 957 Purchases of intangible assets (16 926) (12 910) Acquisition of subsidiaries (13 463 504) Net cash used in investing activities-continuing operations (15 463 858) (597 971) Net cash used in investing activities (15 463 858) (597 971) Cash flows from financing activities Proceeds from loans and borrowings 6 448 788 5 092 634 Repayment of loans and borrowings (2 633) (6 027 637) Repayment of bonds (2 852 822) - Buy-out of shares (411 010) Proceeds from new issuance of shares 8 734 892 Proceeds from sale of treasury shares 1 220 973 - Contributions from shareholders 392 258 Finance lease payments (104 769) (65 829) Net cash from financing activities-continuing operations 13 425 677 (1 000 832) Net cash from financing activities 13 425 677 (1 000 832) Net decrease in cash and cash equivalents (730 323) (797 237) Cash and cash equivalents at the beginning of the year 1 596 680 1 331 856 Cash and cash equivalents at the end of the year 866 357 534 619 19

2. Victoria Group Unaudited Standalone IFRS Financial Statements 2.1. BALANCE SHEET 30 Jun 2011 31 Dec 2010 Assets Non-current assets Property, plant and equipment 4 580 667 4 807 430 Capital advances 897 581 847 084 Goodwill 1 220 989 1 220 989 Other intangible assets 750 470 789 070 Loans - 718 228 Trade and other receivables 143 292 130 804 Deferred tax asset 4 558 25 7 597 557 8 513 630 Current assets Inventories 1 728 621 2 108 498 Prepayments of tax profit 26 331 20 709 Taxes recoverable and prepayments 102 867 127 442 Deferrals or prepayments 246 362 279 585 Accounts receivable 668 652 816 808 Loans 799 226 - Cash and cash equivalents 1 051 541 813 780 4 623 600 4 166 822 Total assets 12 221 157 12 680 452 Equity and liabilities Share capital 31 100 31 100 Additional paid-in capital 148 798 148 798 Retained earnings 1 443 102 1 072 447 Equity attributable to equity holders of the Parent 1 623 000 1 252 345 Uncontrolled stake 346-10 Total capital 1 623 346 1 252 335 Non-current liabilities Borrowings 4 865 076 5 024 554 Finance leases - 544 Deferred tax liability 395 917 365 503 5 260 993 5 390 601 Current liabilities Trade and other payables 4 098 259 5 359 591 Borrowings 591 775 37 114 Finance leases 3 687 6 065 Advances from customers 59 183 69 055 Tax liability, other than income tax 9 794 96 838 Income taxes payable 517 783 392 516 Others current liabilities 56 337 76 337 5 336 818 6 037 516 10 597 811 11 428 117 Total equity and liabilities 12 221 157 12 680 452 20

2.2. INCOME STATEMENT 1H 2011 1H 2010 Revenue 19 558 091 15 947 696 Cost of sales -13 334 490-10 908 696 Gross profit 6 223 601 5 039 000 Доходы от аренды и субаренды 338 858 308 838 Selling, general and administrative expenses -5 612 892-4 519 648 Operating profit 949 567 828 190 Finance income 41 622 85 178 Finance costs -208 291-276 519 Foreign exchange loss, net -57 524 50 580 Profit before income tax 725 374 687 429 Income tax expense -254 377-325 040 Profit for the period 470 997 362 389 Total comprehensive income for the period 470 997 362 389 21

2.3. CASH FLOW STATEMENT Cash flows from operating activities: 1H 2011 1H 2010 Profit before income tax 725 374 687 429 Adjustments for: Depreciation of property, plant and equipment 396 577 350 999 Amortisation of intangible assets 64 914 51 425 Finance costs 208 291 276 519 Finance income -41 622-85 178 Write-down of inventory to net realizable value 258 093 315 114 Gains less losses on disposals of property, plant and equipment and intangible assets 11 416 815 Decrease in provision for impairment of trade and other receivables -20 234-73 816 Decrease in provision for impairment of prepayments -2 600 25 729 Unrealised foreign exchange losses on borrowings 57 524-50 580 Operating cash flows before working capital changes 1 657 733 1 498 456 (Increase) / decrease in trade and other receivables 167 130 291 369 (Increase) / decrease in inventories 121 784 12 238 Decrease in VAT and other taxes recoverable 24 586 94 473 Increase in taxes recoverable and prepayments 33 532 72 321 Decrease in trade and other payables -1 245 349-600 731 Increase in tax liability, other than income tax 125 267 28 944 Increase / (decrease) in advances from customers 59 182-12 391 Cash generated from operations 943 865 1 384 679 Income tax paid -329 496-272 618 Interest paid -205 113-243 466 Net cash from operating activities 409 256 868 595 Cash flows from investing activities: Purchase of property, plant and equipment -268 143-136 017 Acquisition of intangible assets -26 555-16 187 Proceeds of loans and borrowings 85 414 - Disbursement of loans -230 000-5 000 Proceeds from sale of property, plant and equipment 28 060 31 247 Interest received 42 555 38 820 Net cash used in investing activities -368 669-87 137 Cash flows from financing activities: Divident payment -197 973-139 981 Repayment of bonds - -1 389 124 Proceeds from bonds - 1 494 327 Proceeds from loans and borrowings 706 525 2 641 354 Repayment of loans and borrowings -311 378-3 153 122 Net cash from / (used in) financing activities 197 174-546 546 Net increase / (decrease) in cash and cash equivalents 237 761 234 912 Cash and cash equivalents at the beginning of the period 813 780 1 184 969 Cash and cash equivalents at the end of the period 1 051 541 1 419 881 22

3. DIXY Group Unaudited Consolidated Financial Results, Including Victoria Group from the Date of Acquisition on 15 June 2011 3.1. BALANCE SHEET 30 Jun 2011 31 Dec 2010 Assets Non-current assets Property, plant and equipment 22,322,132 12,835,446 Capital advances 1,096,794 942,112 Goodwill 14,592,922 358,478 Other intangible assets 5,819,551 298,851 Initial lease costs 124,477 144,205 Loans 4,725 5,047 Trade and other receivables 2,724 Deferred tax asset 599,240 397,482 44,559,841 14,984,345 Current assets Inventories 5,709,371 3,873,123 Trade and other receivables 2,418,836 1,514,900 Taxes recoverable and prepayments 1,542,801 1,113,736 Loans 913,597 134,066 Initial lease costs 37,502 45,446 Cash and cash equivalents 1,917,901 1,596,680 12,540,008 8,277,951 Total assets 57,099,849 23,262,296 Equity and liabilities Equity attributable to equity holders of the Parent Share capital 1,248 860 Additional paid-in capital 20,437,555 4,111,405 Retained earnings 2,473,220 1,916,147 22,912,023 6,028,412 Non-current liabilities Borrowings 12,907,578 6,038,938 Finance leases 152,974 242,377 Unfavourable operating lease commitments 143,200 Deferred tax liability 2,168,108 234,733 15,371,860 6,516,048 Current liabilities Trade and other payables 11,233,979 7,208,994 Contingent consideration payable 1,000,000 Borrowings 5,078,468 6,442 Current portion of Bonds 2,929,452 Finance leases 150,396 161,878 Advances from customers 157,953 69,270 Tax liability, other than income tax 850,217 278,217 Income taxes payable 255,055 62,375 Unfavourable operating lease commitments 54,748 Provisions for liabilities and charges 35,150 1,208 18,815,966 10,717,836 Total equity and liabilities 57,099,849 23,262,296 23

3.2. INCOME STATEMENT 1H 2011 1H 2010 Revenue 39,168,557 30,691,996 Cost of sales (29,223,911) (23,421,526) Gross profit 9,944,646 7,270,470 Selling, general and administrative expenses (8,525,197) (6,370,932) Operating profit 1,419,449 899,538 Finance income 23,185 18,995 Finance costs (461,919) (359,048) Foreign exchange loss, net (10,145) (94,960) Profit before income tax 970,570 464,525 Income tax expense (413,497) (338,285) Profit for the period 557,073 126,240 Total comprehensive income for the period 557,073 126,240 Attributable to: Equity holders of the Parent 557,073 125,940 Equity holders of the non-controlling interest 300 Profit per ordinary share attributable to the equity holders of the parent, basic and diluted (in Russian roubles per share) 6.24 1.50 24

3.3. CASH FLOW STATEMENT 1H 2011 1H 2010 Cash flows from operating activities: Profit before income tax 970,570 464,525 Adjustments for: Depreciation of property, plant and equipment 907,483 779,139 Amortisation of intangible assets 64,083 40,453 Amortisation of initial lease costs 31,471 49,060 Amortisation of unfavorable lease commitments (2,808) Gains less losses on disposals of property, plant and equipment and intangible assets (2,119) (27,807) Provision for impairment of assets under construction 113,662 Increase in provision for impairment of taxes recoverable and prepayments 2,849 5,112 Increase in provision for impairment of trade and other receivables 21,119 5,433 Reversal of write-down of inventory to net realizable value (421) (11,983) Finance costs 461,919 359,048 Finance income (23,185) (18,995) Unrealised foreign exchange losses on borrowings 10,145 94,960 Operating cash flows before working capital changes 2,554,768 1,738,945 (Increase) / decrease in trade and other receivables (35,676) 86,645 (Increase) / decrease in inventories (45,327) 402,580 Increase in taxes recoverable and prepayments (146,841) (18,318) Decrease in trade and other payables (203,567) (660,116) Increase in tax liability, other than income tax 54,217 83,314 Increase / (decrease) in advances from customers 29,500 (34,924) Cash generated from operations 2,207,074 1,598,126 Income tax paid (415,085) (418,770) Interest paid (484,129) (377,790) Net cash from operating activities 1,307,860 801,566 Cash flows from investing activities: Acquisition of subsidiaries, net of cash acquired (12,411,963) Purchase of property, plant and equipment (2,078,609) (632,943) Proceeds from sale of property, plant and equipment 67,731 42,418 Initial lease costs paid (3,799) (3,959) Loans repaid 547,984 378,061 Disbursement of loans (529,800) (380,595) Interest received 13,066 11,957 Purchases of intangible assets (16,926) (12,910) Net cash used in investing activities (14,412,316) (597,971) Cash flows from financing activities: Proceeds from loans and borrowings 6,448,788 5,092,634 Repayment of loans and borrowings (2,633) (6,027,637) Repayment of bonds (2,852,822) Buy-out of shares (411,010) Proceeds from sales of treasury shares 1,220,973 Contribution from shareholders 392,258 Proceeds from new issuance of shares 8,734,892 Finance lease payments (104,769) (65,829) Net cash from / (used in) financing activities 13,425,677 (1,000,832) Net increase / (decrease) in cash and cash equivalents 321,221 (797,237) Cash and cash equivalents at the beginning of the period 1,596,680 1,331,856 Cash and cash equivalents at the end of the period 1,917,901 534,619 25

4. DIXY Group Unaudited Pro-forma Interim Financial Statements, Including Victoria from the Beginning of the Year 4.1. BALANCE SHEET 30 Jun 2011 31 Dec 2010 Assets Non-current assets Property, plant and equipment 22,322,132 12,835,446 Capital advances 1,096,794 942,112 Goodwill 14,826,401 358,478 Other intangible assets 5,802,295 298,851 Initial lease costs 124,477 144,205 Loans 4,725 5,047 Trade and other receivables 2,724 Deferred tax asset 599,240 397,482 44,776,064 14,984,345 Current assets Inventories 5,709,371 3,873,123 Trade and other receivables 2,401,427 1,514,900 Taxes recoverable and prepayments 1,542,801 1,113,736 Loans 913,597 134,066 Initial lease costs 37,502 45,446 Cash and cash equivalents 1,917,901 1,596,680 12,522,599 8,277,951 Total assets 57,298,663 23,262,296 Equity and liabilities Equity attributable to equity holders of the Parent Share capital 1,248 860 Additional paid-in capital 20,437,555 4,111,405 Retained earnings 2,689,443 1,916,147 Total equity 23,128,246 6,028,412 Non-current liabilities Borrowings 12,907,578 6,038,938 Finance leases 152,974 242,377 Unfavourable operating lease commitments 143,200 Deferred tax liability 2,168,108 234,733 15,371,860 6,516,048 Current liabilities Trade and other payables 11,233,979 7,208,994 Contingent consideration payable 1,000,000 Borrowings 5,078,468 6,442 Current portion of Bonds 2,929,452 Finance leases 150,396 161,878 Advances from customers 157,953 69,270 Tax liability, other than income tax 850,217 278,217 Income taxes payable 255,055 62,375 Unfavourable operating lease commitments 54,748 Provisions for liabilities and charges 17,741 1,208 18,798,557 10,717,836 Total equity and liabilities 57,298,663 23,262,296 26

4.2. INCOME STATEMENT 1H 2011 1H 2010 Revenue 58,817,936 30,691,996 Cost of sales (42,856,916) (23,421526) Gross profit 15,961,020 7,270,470 Selling, general and administrative expenses (13,913,184) (6,370,932) Operating profit 2,047,836 899,538 Finance income 61,288 18,995 Finance costs (651,068) (359,048) Foreign exchange loss, net (67,401) (94,960) Profit before income tax 1,390,655 464,525 Income tax expense (617,359) (338,285) Profit for the period 773,296 126,240 Total comprehensive income for the period 773,296 126,240 27

4.3. CASH FLOW STATEMENT 1H 2011 1H 2010 Cash flows from operating activities: Profit before income tax 1,390,655 464,525 Adjustments for: Depreciation of property, plant and equipment 1,293,683 779,139 Amortisation of intangible assets 423,019 40,453 Amortisation of initial lease costs 31,471 49,060 Amortisation of unfavorable lease commitments (33,690) Gains less losses on disposals of property, plant and equipment and intangible assets 9,297 (27,807) Provision for impairment of assets under construction 113,662 Increase in provision for impairment of taxes recoverable and prepayments 249 5,112 Increase in provision for impairment of trade and other receivables 885 5,433 Reversal of write-down of inventory to net realizable value (13,497) (11,983) Finance costs 651,068 359,048 Finance income (61,288) (18,995) Unrealised foreign exchange losses on borrowings 67,401 94,960 Operating cash flows before working capital changes 3,872,915 1,738,945 Decrease in trade and other receivables 131,530 86,645 Decrease in inventories 416,042 402,580 Increase in taxes recoverable and prepayments (88,723) (18,318) Decrease in trade and other payables (1,448,916) (660,116) Increase in tax liability other than income tax 179,484 83,314 Increase / (Decrease) in advances from customers 88,682 (34,924) Cash generated from operations 3,151,014 1,598,126 Income tax paid (744,581) (418,770) Interest paid (689,240) (377,790) Net cash from operating activities 1,717,193 801,566 Cash flows from investing activities: Acquisition of subsidiaries, net of cash acquired (12,649,724) Purchase of property, plant and equipment (2,346,753) (632,943) Proceeds from sale of property, plant and equipment 95,791 42,418 Initial lease costs paid (3,799) (3,959) Loans repaid 633,398 378,061 Disbursement of loans (759,800) (380,595) Interest received 55,621 11,957 Purchases of intangible assets (43,481) (12,910) Net cash used in investing activities (15,018,747) (597,971) Cash flows from financing activities: Proceeds from loans and borrowings 7,155,313 5,092,634 Repayment of loans and borrowings (314,011) (6,027,637) Repayment of bonds (2,852,822) Buy-out of shares (411,010) Proceeds from sales of treasury shares 1,220,897 Contribution from shareholders 392,258 Proceeds from new issuance of shares 8,734,892 Dividends paid to former shareholders of OJSC GK Victoria (197,973) Finance lease payments (104,769) (65,829) Net cash used in financing activities 13,622,775 (1,000,832) Net increase / (Decrease) in cash and cash equivalents 321,221 (797,237) Cash and cash equivalents at the beginning of the year 1,596,680 1,331,856 Cash and cash equivalents at the end of the year 1,917,901 534,619 28