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ALTIMO General Presentation

ALTIMO General Presentation. March 7 th , 2013.

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ALTIMO General Presentation

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  1. ALTIMOGeneral Presentation March 7th, 2013 This document has been prepared for informational purposes only. It is not intended to or shall be deemed to be construed to constitute an offer or agreement or to represent any binding legal obligation on the part of Altimo. Altimo hereby waves any liability in connection therewith. This document contains forward-looking statements of financial and operational performance of certain companies. The actual outcome may differ materially from these statements as a result of unforeseen developments. Altimo disclaims any obligation to make corrections to reflect future events or developments.

  2. ALTIMO is the Telecom Investment arm of Alfa Group A1 Group Large-scale proprietary and for-client investment in Russia, the CIS and other emerging markets Alfa-Banking GroupProvides wide range of financial services, including corporate banking, retail banking, investment banking, trade finance and asset management Alfa Asset Management The Group’s asset management arm whose clients include Russianas well as international institutional and private clients AlfaStrakhovanie InsuranceGroup Leading issuer of non-obligatory insurance in Russia X5 Retail Group N.V. Largest food retailer in terms of sales in Russia. Listed on London Stock Exchange. X5 uses a multi-format strategy to simultaneously develop three formats: soft discounters, supermarkets, and hypermarkets TNK-BP A major Russian vertically integrated oil and gas company ALTIMO Telecom Investment arm of Alfa Group Rosvodokanal Group Regional leader in water-supply and waste disposal operating in Russia and Ukraine Alfa Capital Partners The Group’s private equity and real estate investment group 

  3. ALTIMO overview • ALTIMO is the leading international private equity investor in emerging telecoms markets across Eurasia, that was established to hold the telecoms investments of the Alfa Group, Russia’s largest and most respected privately-owned business consortium • ALTIMO investment portfolio contains assets in Italy, Russia, the CIS, Turkey and other emerging markets of Europe, Asia and Africa • The value of Altimo’s investment portfolio is around $13.1bn • The companies in which Altimo is invested have a footprint in 20 countries with over 261 million mobile subscribers 47.9%* 27.0%** Fixed-Mobile Russia UkraineKazakhstan Uzbekistan Tajikistan Kyrgyzstan Georgia Armenia Cambodia Laos Italy Canada Bangladesh Pakistan Algeria Zimbabwe Burundi Central African Republic Fixed-Mobile Turkey UkraineBelarus 41.45% Azerbaijan Kazakhstan Georgia Moldova Notes: * ALTIMO holds 52.7% of economic interest and 47.9% of voting interest in Vimpelcom Ltd. ** Turkcell is owned by Alfa Finance Holdings and managed by ALTIMO in accordance with management contract Çukurova is challenging in court appropriation of 51% in Çukurova Telecom Holdings

  4. ALTIMO global footprint Russia Population: 143m Penetration: 179% GDP: $17 700 Armenia Population: 3m Penetration: 104% GDP: $5 600 Canada Population: 34m Penetration: 79% GDP: $41 500 Kazakhstan Population: 18m Penetration: 156% GDP: $13 900 Georgia Population: 5m Penetration: 102% GDP: $5 900 Belarus Population: 10m Penetration: 112% GDP: $16 000 Uzbekistan Population: 28m Penetration: 92% GDP: $3 500 Ukraine Population: 45m Penetration: 123% GDP: $7 600 Kyrgyzstan Population: 6m Penetration: 116% GDP: $2 400 Italy Population: 61m Penetration: 158% GDP: $30 100 Tajikistan Population: 8m Penetration: 91% GDP: $2 200 Algeria Population: 37m Penetration: 99% GDP: $7 500 Laos Population: 7m Penetration: 87% GDP: $3 000 Turkey Population: 80m Penetration: 89% GDP: $15 000 Cambodia Population: 15m Penetration: 96% GDP: $2 400 Pakistan Population: 190m Penetration: 62% GDP: $2 900 CAR Population: 5m Penetration: 41% GDP: $800 Legend Bangladesh Population: 161m Penetration: 56% GDP: $2 000 Country Population: CIA 2012 Penetration: ITU 2011 GDP (per Capita): CIA 2012 Burundi Population: 11m Penetration: 22% GDP: $600 Zimbabwe Population: 13m Penetration: 72% GDP: $500 Turkcell Vimpelcom Ltd. Sources: CIA World Factbook; ITU

  5. ALTIMO Turkcell** Altimo assets demonstrate strong operational andfinancial results with total market value around $13.1 bn Vimpelcom Ltd. Data as of EoY 2012 Mobile subscribers mln 214 47 $, mln 23 061 5 866 Revenue $, mln 9768 1 808 EBITDA $, mln 5 648 833 OpFCF (EBITDA-Capex) $, mln 39 892 11 232 EV $, mln 21 971 (2 221) Net Debt $, mln 17 921 13 453 Market Capitalization* 52.7%*** 27.0%**** Altimo ownership % Altimo share market value* $, mln 9 444 3 632 * As of end of 2012, 3m average, without premiums and discounts ** Turkcell is owned by Alfa Finance Holdings and managed by Altimo in accordance with management contract *** Economic share, voting share 47.85% **** Çukurova is challenging in court appropriation of 51% in Çukurova Telecom Holdings

  6. Turkcell shareholding structure Çukurova* (13.76%) Alfa Finance (26.98%) TeliaSonera (37.09%) Free float (35.93%) 100% Alfa Telecom Turkey 100% Çukurova Telecom Holdings Ltd. 51%* 52.91% Turkcell Holding A.S. 47.09% 51% Turkcell Iletisim Hizmetleri A.S. 13.07% 35.93% Notes: * Çukurova is challenging in court appropriation of 51% in Çukurova Telecom Holdings

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