Earnings Presentation for the six months ended 30 June 2016

30 August, 2016

This presentation has been prepared by Synergy, Co. (the “Company“, or “Synergy”) and together with its subsidiaries. By attending the meeting where the presentation is made, or by reading the presentation slides, you agree to the following limitations and notifications. This presentation is strictly confidential to the recipient, may not be distributed to the press or any other person, and may not be reproduced in any form, in whole or in part. Failure to comply with this restriction may constitute a violation of applicable securities laws. This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire shares of the Company or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction. Neither this presentation nor any part thereof, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation may contain statements that are, or may be deemed to be, forward-looking statements within the meaning of the U.S. federal securities laws and are intended to be covered by the safe harbors created thereby. Examples of such forward-looking statements include, but are not limited to statements of the Company’s predictions, forecasts, projections, strategies, plans, targets, objectives, expectations, estimates, intentions, beliefs or goals, including those related to acquisitions, sales, products or services, results of operations, financial condition, liquidity, prospects or dividend policy; statements concerning future business or industry performance; other statements that do not relate strictly to historical or current facts; and assumptions underlying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the forward-looking statements will not be achieved. Among other things, forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Readers should be aware that several important factors could cause the Company’s assumptions to be incorrect, and could cause actual results to differ materially from the predictions, forecasts, projections, strategies, plans, targets, objectives, expectations, estimates, intentions, beliefs or goals expressed in such forward-looking statements. These factors include:

• changes in political, social, legal or economic conditions in Russia generally, or in the regions of Russia in which the Company operates, including changes in levels of consumer spending and demand for some or all of its products;

• changes in consumer preferences and tastes, demographic trends or perceptions about health related issues; • increased competitive product and pricing pressures and unanticipated actions by competitors that could impact the Company’s market share, increase expenses and hinder growth potential; • the ability to complete business combinations, partnerships, acquisitions or disposals, existing or future, and to achieve integration, expected synergies and/or costs savings; • levels of marketing, promotional and innovation expenditure by the Company and its competitors; • the Company’s ability to protect its intellectual property rights; • increasing recognition in Russia of product liability and personal injury torts; • legal and regulatory developments and changes in the policies of the government of the Russian Federation, including regional authorities, including regulatory developments or policy

changes regarding consumption of or advertising for spirits, or taxation; • changes in the cost of raw materials and labor costs; • renewal of distribution rights and contracts on favorable terms when they expire; • technological developments that may affect the distribution of products; • changes in financial and equity markets, including significant interest rate and foreign currency exchange rate fluctuations, which may affect the Company’s access to or increase the cost of financing or which may affect the Company’s financial results; • changes in accounting standards, policies or practices; • availability of qualified personnel, including accounting personnel; and • ability to identify other risks relating to the Company’s business and manage the risks associated with the aforementioned factors.

This list of important factors is not exhaustive. Readers should carefully consider such factors and other uncertainties and events, especially in light of the political, economic, social and legal environment in which the Company operates. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update or revise any of them. Readers should not place undue reliance on forward-looking statements. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario.

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Synergy, a leading alcohol company in Russia reports 1H2015 financial results

1H2016 vs 1H2015

• Sales grew 22% and reached 24.7 bln. rubles • Net Revenue increased by 24% to 16.1 bln. Rubles • Gross Profit raised by 25% to 6.9 bln. rubles • EBITDA grew 11% to 1.6 bln. rubles • EBITDA margin decreased by 1.2 pp. from 10.9% to 9,7% • 31% growth of Net Income • Net Debt to EBITDA – 3.1X • 16% volume increase

Key operational

developments

• Synergy concluded several exclusive, long-term distribution agreements with

Allied Brands S.R.L. (for Xentia - #1 Absinthe in Russia) and Sazerac (for

bourbons Benchmark and Buffalo Trace).

• Synergy concluded partnership with Bacardi for local bottling and packaging of

William Lawson’s (#1 whisky in Russia).

• We extended Beluga line with Beluga Celebration, bitters Beluga Hunting

Herbal and Beluga Hunting Berry.

• New product development and launches: Captain’s family extended, Snow

Crab and Georgievskaya vodkas, The Treasure of Tiflis Georgian brandy,

whysky-based liquor Trinity.

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Consolidated Revenue for 1H2016

13 022

16 106

0

6 000

12 000

18 000

1H2015 1H2016

Consolidated Revenue, million RUB

+24% Y-o-Y

Revenue breakdown by segments, million RUB (1)

Alc

oh

ol

(1)

Fo

od

(1) 3 238 3 273

0

1 200

2 400

3 600

1H2015 1H2016

+1% Y-o-Y

25%

75%

Alcohol

Food

Consolidated Revenue split, %

1H2015: 13 022 million RUB(1) 1H2016: 16 106 million RUB(1)

20%

80%

Alcohol

Food

o 24% Y-o-Y increase in revenue on the back of 16% volume growth

o Ongoing diversification – growth of export-import operations

o Food segment was stable

Source: IFRS financial statement for 1H2016

Note (1): Net of intersegment operations

9 768 12 806

0

7 000

14 000

1H2015 1H2016

+31% Y-o-Y

11%

89%

5

Consolidated Gross Profit for 1H2016

Consolidated Gross Profit, million RUB

5 483 6 854

0

4 000

8 000

1H2015 1H2016

42.6%

Gross Profit

Gross Margin

Gross Profit breakdown by segments, million RUB (1)

4 691 6 067

0

3 500

7 000

1H2015 1H2016

47%

Alc

oh

ol

(1)

Fo

od

(1)

763 764

0

300

600

900

1H2015 1H2016

Consolidated Gross Profit split, %

1H2015: 5 483 million RUB(1) 1H2016: 6 854 million RUB(1)

14%

86%

Alcohol

Food

Alcohol

Food

oMain drivers for the Consolidated Gross Profit and for the

Alcohol segment Gross Profit were volume growth, diversification of the operations and price indexation.

oDouble digit growth of premium import and export operations.

Source: IFRS financial statement for 1H2016

Note (1): Net of intersegment operations

+0% Y-o-Y

+30% Y-o-Y

42.1%

+25 % Y-o-Y

48%

23% 24%

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Alcohol segment breakdown(1)

7 894

1 875

10 495

2 311

0

4 000

8 000

12 000

Spirits Production Distribution

Alcohol segment revenue breakdown, million RUB

1H2015

1H2016

4 091

600

5 201

866

0

3 000

6 000

Spirits Production Distribution

Alcohol segment gross profit breakdown, million RUB

+27% 1H2015

1H2016

82%

18%

Spirits production

Distribution

Alcohol segment consolidated revenue split, %

1H2016: 12 806 million RUB 1H2015: 9 768 million RUB

81%

19%

Spirits production

Distribution

Key Alcohol segment drivers in 1H2016

oSpirits production: 33% Y-o-Y increase in revenue on the back of 16% volume growth. Additional driver: prices were increased in the beginning of 2016.

oGross margin of the Spirits production slightly decreased (from 51.8% to 49.6%) mainly due to increase of the retail chains share in sales

oMain drivers of Distribution revenue growth: growth of premium imported brands such as William Grant & Sons along with wine distribution expanding

Note (1): Anaudited

+33%

+23% +44%

49.6% 51.%

37.5% 32.0%

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Consolidated EBITDA and Net Profit for 1H2016

1 418

1 569

0

800

1 600

1H2015 1H2016

EBITDA, million RUB

+11 Y-o-Y

EBITDA

EBITDA Margin

1238 1152

3 551 4 552

0

3 000

6 000

1H2015 1H2016

+28% Y-o-Y

-7% Y-o-Y

G&A and distribution expenses , million RUB

General & Administrative expenses

Distribution expenses

4 789

5 704

1 031

1 170

98 128

0

650

1 300

1H2015 1H2016

+13% Y-o-Y

Operating profit and Net Income, million RUB

+31% Y-o-Y

o 7% year-on-year decrease in G&A as a result of cost-cutting program implementation

o 28% year-on year increase in distribution expenses due to marketing support of our growing sales including trade-marketing activities in retail chains.

o Net income grew by 31%

Source: IFRS financial statement for 1H2016

Note (1): Net of intersegment operations

9.7% 10.9%

Opertating profit

Net income

12%

19%

48%

33%

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Company’s debt

3 164

1 493

2 802 3 841

5 544

6 670

5 647

6 333

YE2014 1H2015 YE2015 1H2016

10 174

Debt breakdown, million RUB Long-term debt

Short-term debt

6 212

8 226 7 288

9 344

YE2013 YE2014 YE2015 1H2016

Net debt (1) evolution, million RUB

As of 31 December, 2015

32%

30%

38%

Less than 1 year

1-2 years

2-5 years

Total = 10 174 mln RUB

o The cost of borrowing decreased (13.24% p.a. in 1H2016 vs 14.8% p.a. in 1H2015)

o Share of the unsecured loans reached 71%. o The Company’s debt grew mainly due to

double digit growth of our sales and inventories

Source: IFRS financial statement 2011-1H2016

Note (1): Net debt = Total debt – Cash & Cash equivalents

8 449

8 708 8 163

Less than 1 year

1-2 years

2-5 years

Total = 8 449 mln RUB

As of 30 June, 2016

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Address: 30/1 Obrucheva Str., bldg. 1 Moscow 117485 Russia Phone: +7 495 510 2695 +7 495 775 3050 Fax: +7 495 510 2697 +7 495 775 3052 E-mail: ir@sygroup.ru Contacts: Sergey Kuptsov, Head of Corporate finance Prokhor Malutin, PR director www.sygroup.ru

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