This document provides an overview of investment opportunities in Moscow and Kiev for the first quarter of 2016. It summarizes three potential investments - Podol Grad in Kiev, Match Point in Moscow, and YE'S in Moscow. For each opportunity, it outlines details like the status, unit sizes, estimated returns, and risks. It then provides property descriptions and maps for the three investments. The document concludes by describing membership privileges for the B-Club, a private real estate investment club focused on finding assets with high upside potential.

1. 1Q 2016
INVESTMENT
OPPORTUNITIES

2. 2
Introduction
2015 was the year of our creation – the
moment of birth.
B-Club – #bottom-searchers &
#billion-makers club was established in a
evolving environment full of risk and
opportunities. We have made a long way
analyzing, understanding and probing the
real estate markets in Russia and Ukraine
before we made a bid. Please see the
highlights of this successful year below.
Buy the way: what does it mean for You – to
search the bottom? How do You feel there?
Are we far from millions and billions to arise
from our investments?
In my view – we are on the right path.
Bottom is very solid, which is a foundation
of the mountain. It’s easy to stay there, in
this comfort zone, and much harder to
explore beyond. People around would
whisper scary things and rumors (oil market,
currencies, politics, market collapse, etc.).
Only true adventurists could continue the
journey forward. Let’s get fun and money
out of our journey!
It is my belief that we are on the right path
and getting stronger. Figures show that
much. Regardless of geopolitical and
economic turmoil, the investments became
profitable both in local currency and the US
dollars – in Kiev and Moscow.
Our Kiev’s portfolio is 5% higher in doll,
since we entered the market with 2 and 1BD
in Podol Grad in 2Q and 3Q 2015. The first
handover is scheduled in 2Q2016.
Our Moscow’s apartments we bought in 4Q
in Match Point cost 20% higher in RUB and
at least 10% in US doll today.
I feel new opportunities are revealing
themselves. We’ll keep one eye on the
current stock and the other on new horizons,
trying to save the eyesight in a healthy way.
Sincerely Yours,
Vladimir Tribrat

3. 3
MOSCOW
Since 2010 the residential market in Moscow
has been growing in price. Prices grew on aver-
age 10 % a year. It was hard to make a deci-
sion for true bottom-searches whether to buy
property in Moscow for the last 3 years.
50$/barrel, demand’s slowdown and a new
crisis, we assume it’s time to step in the win-
balance, proper partner developers, proper size
of stakes.
Not to forget that Moscow is still one of the
top markets regarding the volumes of trans-
actions and annual delivery of residential real
estate.
(in 3-years term) of a number of “kickers”:
■ Market upside: overall improvement of mar-
ket and economic situation in 2016–2018;
■ Stage of construction upside: cost of money
for local developers (the 5-years high) —
properties;
■ Asset upside: proper choice of investment
assets with the max upside and minimum
developers’ risk;
■ Currency upside along with oil prices re-
bound (by 2018).
Meanwhile political risks in the coming years
-
ments. Ukraine, sanctions and 2018 president
elections are the most acute issues.
Billion Estate’s team is encouraged to provide
the residential markets in Kiev and Moscow.
Podol Grad by UkrBud at Podol, Kiev and apart-
ment complex Match Point at Park Pobedy,
Kutuzovsky prospect, Moscow are our “stocks-
in-trade” for the 4Q 2015. Welcome on board!

4. 4
Investment opportunity Podol Grad, Kiev Match Point, Moscow YE'S, Moscow
Status Flats, shell&core Turn-key apartments
Unit size
(recommended), sq.m.
55–100 30–62,5 28-44
B-Club’s price, $/sq.m. Staring $1,100 Starting $2,500 Starting $2,500
Budget From $60,000 From $100,000 From $75,000
3-year upside
(Billion Estate’s estimate), %
Up to 90 % Up to 80 % Guaranteed 60% return in 3 years
Rental yield on initial
investment (estimate), %
Up to 7.5 % Up to 10 % 60% guaranteed buy-back option
Upside structure
Market
Undervalue pricing
Stage of construction
Stage of construction
Undervalue pricing
Final stage of construction
Hand-over 2016–2017 2019 2017–2018
Developer UkrBud (state-owned) VTB Bank (co-developer) Pioneer Group
Risks
Slow delivery
Market weakness
Slow construction General market risks
Risk of non-delivery
(estimate), %
5 % 2 % 1 %
Table1. Opportunities overview

5. 5
Investment opportunity
Per year, %
Estimated mark on
investments, %
Russia (Moscow) Ukraine, (Kiev)
100 27
12 14
Table 2. Return in $ on existing investment pool
12%
14%
27%
100%

6. 6
Property description
Match Point
Residential Complex
Match Point is a new mixed-use complex with apartments and a vol-
leyball court. The business-class building that features two sections of
within ten-minute drive from the center of Moscow. The complex will be
built in accordance with the latest construction technologies while natu-
amenities for comfortable living right on the site.
5.4 km
1.9 km
2
km
Poklonnaya
Hill
Moscow
City
Vremena
Goda
Vremena
Goda
Moscow
City
Poklonnaya
Hill
■ Number of apartments:
1 642
■ Total build-up area:
more than 200 000 sq.m
■ Infrastructure:
■ Location:
– 9 km to the shopping
mall Vremena Goda
– 4 km to Poklonnaya Hill
– 6 km to the business cen-
ter Moscow City
a volleyball court,
a dozen of
kindergartens, few
schools, a hospital,
a movie theater,
shopping malls
Gorbushka, Ocean
Plaza, Vremena Goda

7. Property description
7
Podol Grad
Residential Complex
Podol Grad is a modern middle-rise residential estate made with
bricks in Art Nouveau style with a touch of XIX century romanticism
and constructivism. It features exquisite facades, spacious layout and
well-developed internal infrastructure. The community will be arranged
and landscaped in accordance with up-to-date standards and world
trends. The residential complex stands out with its proximity to cultural
sites of the capital and to road interchange.
■ Number of units:
club houses with 25–40
apartments
■ Total build-up area:
30 000 sq.m
■ Infrastructure:
shops, cafes, restaurants,
boutiques, drug stores,
centers, animal clinics,
supermarkets, etc.
■ Location:
– 1.5 km to Hyatt Regency
Kiev Hotel
– 1.2 km to Mychailivska
square
– 3 km to Khreschatyk
Mychailivs-
ka square
Khre-
schatyk
Hyatt
Regency
Kiev
Hotel
1.5
km
852 m
863 m

8. Property description
8
YE'S
apart-hotel
YE'S
■ Number of apartments:
504
■ Total build-up area:
0.5 million sq.m
■ Infrastructure:
■ Location:
– 3.6 km to the Crocus Expo
International exhibition
centre
– 5.1 km to the Greenwood
Business Park
– 0.9 km to the Mitino metro
station
Mitino
metro
station
Greenwood
Business
Park
900 m
5.1 km
3.6 km
fitness center with a
swimming pool (3,000
sq.m), SPA-complex,
restaurants and cafes,
lounge bar, concierge
service, retail galleries
and customer service,
underground and guest
parking, etc.
is a complex of stylish middle-scale apartments, which are an
alternative investment product on Moscow market intended for
investors and tenants by its price-to-quality ratio. Advantages of the
object: 4* comfort, unique infrastructure, profitability is managed by
YE`S property management company. Investor benefits: 2 returns
programs, ensured lease of the apartments, easy management and
holding of the assets.
Crocus Expo

9. B-Club membership privileges
9
All on a turnkey basis —
purchase and sale
Complete legal support
of real property business
Tax advice for non-resident
investors
Special prices
for our investors
The possibility of arranging
a meeting with developers/
top management
for the transaction

10. 10
B-Club
B-club — #bottom-searchers & #billion-makers club
is a private real estate investor club.
The Club's strategy is to search and acquire highly liquid assets
with outstanding value upside worldwide.
Sincerely yours,
Vladimir Tribrat
Managing Partner, PhD
B-CLUB