AFIMALL City is the flagship project and largest mall in central Moscow, with NOI reaching $13.8 million in Q1 2012. The company reimbursed $21 million in VAT on the AFIMALL City project and put part of the parking into operation. Main targets for 2012 include improving AFIMALL City operations, settling agreements on the parking units, and securing refinancing on favorable terms.

1. Q1 2012
INVESTOR PRESENTATION
May 2012

2. Disclaimer
This document 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 securities of AFI Development Plc (the "Company") or any of
its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part of this
document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any
contract or commitment or investment decision whatsoever. No representation, warranty or undertaking,
express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness
or correctness of the information or the opinions contained herein. None of the Company or any of its
affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any
loss howsoever arising from any use of this document or its contents or otherwise arising in connection with
the document.
This communication is only being distributed to and is only directed at (1) qualified institutional buyers
(within the meaning of Rule 144A of the United States Securities Act of 1933, as amended (the "Securities
Act") or (2) accredited investors (as defined in Rule 501(a) of Regulation D adopted pursuant to the
Securities Act). Any person who is not a "qualified institutional buyer" or "accredited investor" should not
act or rely on this document or any of its contents.
This document contains "forward-looking statements", which include all statements other than statements of
historical facts, including, without limitation, any statements preceded by, followed by or that include the
words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or
similar expressions or the negative thereof. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond the Company's control that could cause the actual
results, performance or achievements of the Company to be materially different from future results,
performance or achievements expressed or implied by such forward-looking, including, among others, the
achievement of anticipated levels of profitability, growth, cost and synergy of recent acquisitions, the
impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact
of developments in the Russian economic, political and legal environment, volatility in stock markets or in
the price of our shares or GDRs, financial risk management and the impact of general business and global
economic conditions.
Such 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. By their
nature, forward-looking statements involve risks and uncertainties because they relate to events and depend
on circumstances that may or may not occur in the future. These forward-looking statements speak only as
at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking
to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based.
Neither the Company, nor any of its agents, employees or advisors intends or has any duty or obligation to
supplement, amend, update or revise any of the forward-looking statements contained in this document.
The information contained in this document is provided as at the date of this document and is subject to
change without notice.
2

3. Contents
1. AFI Development at glance 4
2. Key Moscow projects 5
3. Portfolio overview 6
4. Company update
a. Main events during 2012 8
5. Projects update
a. AFIMALL City project highlights 11
b. AFIMALL City Operational Summary 12
c. Yielding Properties 13
d. Property under construction
e. Projects next for development 17
f. Pipeline and land bank 20
6. Q 1 2012 Financial Results
a. Income Statement 21
b. Loans and Cash Position 22
c. Balance Sheet 23
3

4. AFI Development at Glance
Market Cap, as of US$ 0.52 bn
•Full cycle real estate •Strong liquidity position with
May 21, 2012 developer around US$104.1 mn in cash as
of March 31, 2012
Market Cap, US$ 0.67 bn
12months average •Focus on unique large
FINANCIAL
BUSINESS scale commercial and
STABILITY •Secured financing for on-going
Price per share, as US$ 0.50 residential projects projects
of 21 May, 2012
•Primary market: •Low leverage: Debt/Total assets*
NAV(Equity), US$ 1.94 bn Moscow, Russia is 24%
March 31, 2012
NAV per share, US$ 1.85
•Active on the market for
March 31, 2012 11years •10 completed projects with total
c. 500K sqm of space
Portfolio MV* US$ 2.7 bn
•Admitted to LSE in 2007
HISTORY (Tickers: AFID.IL; TRACK •Impeccable credit history
Portfolio market breakdown* AFRB.LN). Received RECORD
premium listing in 2010 •Market reputation for high
Next for Land Bank quality and professional
Development 15%
23% •Free float – 36.3% property management
Income
Projects Producing
Under Projects
Construction 12% •Substantial income generating
7% •Strong global brand portfolio. Major project
AFIMALL (p.11) completed in
•Affiliate of Africa Israel Q1 2011
BRAND Group (63.7% owner) , a PORTFOLIO
AFIMALL major conglomerate with •2 projects close to completion
43% global focus on real (p.15), 3 project next for
estate, construction and development (p.18)
infrastructure
•Pipeline and land bank (p.20)
* Latest JLL report as of 31 December, 2011
* Debt represents long-term and short-term loans
4

5. Key Projects in Moscow1
Current Portfolio
Yielding Assets / Trading Stock
AFIMALL City Aquamarine II Berezkovskaya
Value (JLL): US$ 1.5 bn
GLA: 169.9K sqm
Ownership:50% NOI stab.(AFID share) US$ 165.8 mn
H2O Four Winds GSA: 2.2Ksqm
Plaza Spa*
Botanic Garden Price psqm: 13K – 15K
*Outside of Moscow
Pochtovaya, Phase I
Aquamarine
Paveletskaya, 1 Hotel
Tverskaya Plazas
Four Winds Projects close to completion
AFIMALL City
Berejkovskaya
Aquamarine Complex Value(JLL): US$ 191.1 mn
H2O Office GLA: 51.9K sqm
Paveletskaya, 1 Kosinskaya
Otradnoe Aquamarine III Kalinina Hotels* NOI stab.(AFID share): US$ 24.8 mn
Paveletskaya,
*Outside of Moscow
Phase # II
Development Projects
Value(JLL): US$ 625.6mn
GLA: 100.2K sqm
Tverskaya Pochtovaya, NOI stab.(AFID share): US$ 99.7 mn
Plazas Otradnoe Phase I GSA: 607.1K sqm
CF from sale: US$ 2.3 mn
Pipeline and Land Bank
Value(JLL): US$ 399.1 mn
Botanic GBA upon completion: 559.6K sqm
Kosinskaya Garden
Paveletskaya, Other 1 - all data presented as of 31.12.2011
Other
Phase # II projects
5
Note: the NOI projections are “forward looking statements” based on JLL valuation assumptions and Company estimations and they can be realized or not realized due to factors beyond the Company's control including, among others, the impact of
competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or GDRs, financial risk
management and the impact of general business and global economic conditions

6. Portfolio Overview
Track record* (sqm)
hotel  Delivered  Company track record – c. 400K sqm of commercial and residential space
office 12,665
78,647  Under construction
 Current portfolio – up to 2 mn sqm
retail
174,802
 Active pipeline projects– c. 1.2 mn sqm
hotel
36,130
 AFIMALL is the flagship yielding asset with 166K sqm GBA operation
started in Q1 2011
residential
69,783  Aquamarine III delivery will add 79K sqm of high quality office stock to the
office Company yielding portfolio in H1 2012
102,376
*total gross area of projects shown inclusive of shares owned by partners
and projects sold, exclusive of pipeline and land bank projects
Market Value breakdown**
Next for
 Current portfolio MV – US$ 2.7 bn**
Land Bank
Development 15%
23%  Current MV of yielding properties – US$ 1.5 bn**
Income
Producing  Selection of attractive pipeline projects provides with wide opportunities for
Projects Under
Projects
Construction
12%
7% future development
AFIMALL
43%
** MV according to JLL’s valuation as of December 31, 2011
6

7. SECTION 1
Company Update

8. Company Update during Q1 2011
MANAGEMENT UPDATE
- The Company has established an employee share option plan operated by the Board of Directors, which grants
15 715 410 number of B ordinary shares as an incentive to the top management
AFIMALL CITY
- The Company reimbursed US$ 21 mn on AFIMALL City share buy-out VAT, which was recognized as
revaluation gain in Q4 2011
- Management received positive decision from tax authorities to reimburse VAT on parking buy-out (expected in
Q2 2012)
- Company put part of the parking into operation (600 parking lots) in February 2012, completion of the rest of the
parking is expected by the year end
PLAZA SPA ZHELEZNOVODSK (KALININA HOTEL)
- The project team conducted soft opening of the Hotel in May 2012; grand opening is scheduled for July 2012
TVERSKAYA PLAZAS
- Following the non-binding agreement between AFI Development and the City of Moscow, the City is progressing
with renewing and reapproving the Company development rights and leasehold interests in land plots at the Plaza
Ic (part of Plaza I), Plaza IIa and Plaza IV projects
ODINTSOVO PROJECT
- Management significantly progressed on an approval of the project documentation from State Expertize
Commission
- Ultimate approval to obtain construction permit is expected in the next few months
OZERKOVSKAYA III
- The Company progressed towards construction completion in shell&core in H1 2012; grand opening is
scheduled for this summer
- A permit to start operations is expected to be received in Q2 2012
- Company is in continuous negotiations with potential tenants/buyers for the project
8

9. Main Targets for 2012
AFIMALL CITY
- Improve operations in AFIMALL
- Settle the agreement on disposition of 665 parking units to VTB bank
- Reimburse VAT on parking buy-out in the amount of US$ 20 mn
- Finalize parking construction by the end of 2012
- Increase occupancy level and number of visitors
- Introduce aggressive advertising campaign
- Secure refinancing for AFIMALL on favorable terms ( low interest rate and principal amortization)
OZERKOVSKAYA III
- Complete construction of Ozerkovskaya III and proceed with lease up/sale
- Upon completion and partial lease of the project the Company aimed to refinance the loan facility in US$ with
lower interest rate payment
TVERSKAYA PLAZAS
- Complete the process with the City regarding the renewal and re-approval of the Company development rights
and leasehold interests in land plots at the Plaza Ic, Plaza IIa and Plaza IV
- Finalize restructuring of existing loan facility on Tverskaya Mall project
ODINTSOVO (OTRADNOE) PROJECT
- Decide on the further development of Odintsovo project
- Secure construction debt financing
PLAZA SPA ZHELEZNOVODSK (KALININA HOTEL)
- Conduct grand opening of Kalinina Hotel in July 2012
9

10. SECTION 2
Projects Update

11. AFIMALL City Project Highlights
KEY ADVANTAGES
 The largest mall in the city center
 Best quality construction and fit-out
 Attractive consumer target group, employed by worldwide institutional
companies in the surrounding offices
 Perfect tenant mix: Banana Republic, Inditex, H&M, X5
 Good transport accessibility – metro station underneath, 100 m distance to
the Third Transport Ring
PROJECT HIGHLIGHTS (as March 2012)
Ownership 100%
Land area 4.4 ha in the unique business district
GBA, sqm 165,924
GLA, sqm 107,121
Parking units, # 2,700
Forecast NOI*(stab.) US$ 134 mn
Average rent per sqm pa US$ 1,278 per sqm pa
Market Value (JLL as of 31.12.2011)* US$ 1,160 mn
Space leased 77%
* Valuation conducted by JLL as at December 31, 2011
Surrounding offices and apartments GBA:
• Already completed – 1.1 mn sqm
• In mid-term GBA to reach – 1.6 mn sqm
• Total pipeline – over 2.5 mn sqm
Source: http://eng.citynext.ru
11

12. AFIMALL City Operational Summary
ACHIEVEMENTS
Operation:
 AFIMALL NOI reached US$ 13.8 mn in Q1 2012 compared to US$ 10.7 mn in
Q4 2011
Finance:
 The Company reimbursed US$ 21 mn on AFIMALL City share buyout VAT
 The Company successfully registered the mortgage provided by VTB over the
premises of AFIMALL City(excl. parking). It results in 2% decrease of the
interest rates charged on loans
AFIMALL parking:
 Company put part of the parking buy-out into operation (600 parking lots) in
February 2012
 Management received positive decision from tax authorities to reimburse US$ 20
mn VAT on parking buy-out in AFIMALL (expected in Q2 2012) Daily average footfall in AFIMALL (‘000 visitors)
 The Company is continuing its negotiations with VTB Bank to dispose 665 35
parking spaces 31.7K
NEXT STEPS ON TRACK TO PROJECT PROMOTION 30
 Settle the agreement on disposition of 665 parking units to VTB bank
25
 Reimburse VAT on parking buy-out in the amount of US$ 20 mn
 Finalize parking construction by the end of 2012 20
 Introduce aggressive advertising campaign
15
 Secure refinancing at favorable terms of interest and amortization
The City of Moscow is progressing with its plan for the opening of additional metro 10
station which is also expected to have a significant positive effect on the number of
visitors in the Mall in the future 5
0
2012
12

13. Yielding Properties2
* JLL estimation
** Total MV dies not include Ozerkovskaya II residential (US 30 mn) and Four Winds Residential ( US 22 mn) value
*** offices and retail only
2 - all data presented as of 31.12.2011
13

14. Property under Construction

15. Ozerkovskaya III
KEY ADVANTAGES
 Located in Zamoskvorechye, Moscow’s prestigious business area
within the Garden Ring
 3-rd phase of Ozerkovskaya Embankment development site
 4 Class A office buildings comprising one complex
ACHIEVEMENTS
Construction:
 Progressed towards completion in shell&core in H1 2012; grand opening is
scheduled for this summer
PROJECT HIGHLIGHTS (as of March 2012)  Permit to begin operations is expected to be received in Q2 2012
Ownership 50% Operation Strategy:
 The project has been put on the market for both lease up and sale; the
GBA,sqm* 78,647
average market rate in this area is close to US$ 900 psm pa. The Company
GLA, sqm* 46,394 has started aggressive marketing of the project
Finance:
Parking, # lots* 551
 Upon completion and partial lease of the project the Company aimed to
Delivery H1 2012 refinance the loan facility in US$ with lower interest rate payment.
Negotiations with banks are ongoing
Terminal Value US$ 430.8 mn
(JLL est.,31.12.2011)* TARGETS
Exp. NOI (JLL est.), pa* c. US$40.9mn  Complete construction of Ozerkovskaya III and proceed with lease up/sale
* For 100% of the projects
15

16. Plaza Spa Zheleznovodsk (Kalinina Hotel)
KEY ADVANTAGES
 Located in Russia’s south region in the city of Zheleznovodsk,
popular resort destination
 Inspired by the success of Plaza Spa Hotel in Kislovodsk
ACHIEVEMENTS
Construction:
 Hotel construction is completed, minor fit-out works are ongoing
 On May 14, 2012 the Company was granted a permit to start
operations of the complex
 A soft opening of the hotel happened in May 2012 and the grand
opening will take place in July 2012
PROJECT HIGHLIGHTS (as of March 2012)
Finance:
Ownership 100%  The loan together with the expected VAT reimbursement is enough
GBA,sqm 12,665 to cover outstanding costs on the property development
TARGETS
# of keys 136
 Conduct grand opening of Kalinina Hotel in July 2012
Delivery Q2 2012  Roll-up operations in cooperation with Plaza SPA management
Stabilized occupancy(JLL est.) 71%
Average Room Rate (Jll est.) US$ 136.7
Terminal Value US$ 26.2 mn
(JLL est.,31.12.2011)
16

17. Projects next for Development

18. Projects Next in Line for Development
GBA
Project Apartments left/occupancy
(sqm)
Odintsovo (Otradnoye) Bolshaya Pochtovaya Tverskaya Plazas
GBA, sqm 703,317 * 231,680* 169,700*
436,494 residential and 37,504
GLA /GSA, sqm 123,750 residential* 100,175 */7,070*
commercial *
Parking 2,053* 1,904 lots * 588 lots*
Ownership 100% 100% 100%
Delivery design stage design stage design stage
Expected revenue /
outstanding US$ 1,331 mn/ US$ 871 mn* US$ 807 mn/ US$ 334 mn* USD1,207 mn/ US$ 358 mn*
investment costs *
• Located on 32 ha site in the • The project is located in the • Located in one of Moscow’s most
town of Odintsovo, one of the Moscow Central District on the central neighborhoods near
newest and most Yauza river bank; total site area is Belorussky rail terminal, on the
environmentally clean areas 4.5 ha intersection with Tverskaya Street
bordering Moscow • Phased mixed use development
• Project includes dominated by residential
Details multifunctional infrastructure component
with schools, kindergardens
and sports facilities for
children
• Currently on-going concept
refinement and design * Based on valuation conducted by JLL as of December 31, 2011, excl.
entrepreneur’s profit from investment costs
Note: All pipeline projects projections are “forward looking statements” based on JLL valuation assumptions and Company estimates and they can be realized or not realized due
to factors beyond the Company's control including, among others, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of 18
developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or GDRs, financial risk management and the impact
of general business and global economic conditions

19. Pipeline and Land Bank3
GBA upon completion MV as of 31/12/2011, US$K
Project Type Land (ha)
(sqm) (JLL)
Kosinskaya Office 8.07 111,770 146,120
Botanic Garden Residential 3.2 173,300 68,300
Park Plaza Kislovodsk Hotel resort 5.3 40,000 10,000
Versailles, Kislovodsk Hotel resort 0.6 11,762 6,900
Ruza Mixed use 387 n/a 3,922**
St. Petersburg Mixed use 3.7 n/a 1,850
Paveletskaya, II Mixed use 4.0 106,250 47,800
Boryspol Residential 130.7 n/a 13,500
Tverskaya Plazas(Ib, II) Mixed use 116,526 100,700
TOTAL 559,608 399,092
Extensive land bank  * Valuation by JLL as at 31.12.11
 Land bank – projects the Company is currently put on hold  ** Value presented as a BS value as at 31.12.11
 Over 500 ha of land
Land bank strategy
 Activate projects upon securing required financing and evaluation of demand level from prospective tenants/buyer
 Full flexibility regarding future development in various cycles of the economy – the major competitive advantage for the
Company
Note: MV upon completion and GBA upon completion are “forward looking statements” based on JLL valuation assumptions and they can be realized or not realized due to factors beyond the Company's control including, among
others, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of
our shares or GDRs, financial risk management and the impact of general business and global economic conditions
3 - all data presented as of 31.12.2011
19

20. SECTION 3
Q1 2012 Financial Results

21. Income Statement
1/1/12- 1/1/11-
Changing
NARRATIVE 31/03/2012 31/03/2011  Revenues for the three months to 31 March 2012 to US$20.0
US$' 000 US$' 000 US$ mn % mn, driven by higher rental income. The contribution from
Revenue 36,847 15,596 21,251 136% AFIMALL City was US$21.7 million
Rental income 35,307 15,314 19,993 131%  Results from operating activity for the three months to 31
Construction consulting/management services 1,540 282 1,258 446% March 2012 was US$ 22.1 mn compared to US$4.4 mn for the
three months to 31 March 2011. The increase was mainly due
Other income 122 59 63 107% to higher rental activity, which was the result of AFIMALL
City start of operations
Operating expenses (16,277) (10,308) (5,969) 58%
Administrative expenses (3,358) (3,158) (200) 6%  Net profit for the three months to 31 March 2012 was US$7.9
Other expenses (246) (1,925) 1,679 -87% mn compared to US$16.7 mn for the three months to 31 March
2011. The reduction is mainly due to the increase in finance
17,088 264 16,824 6373%
expenses
Profit on disposal of investments in subsidiaries 2,337 -
Valuation gain on investment property 1,068 -  Finance expenses for the three months to 31 March 2012
Net proceeds from sale of trading properties 3,463 7,116 (3,653) -51% amounted to US$15.9 mn compared to US$3.9 mn for the three
months to 31 March 2011. The increase was mainly due to
Carrying value of trading properties sold (1,891) (3,001) 1,110 -37%
finance expenses related to AFIMALL City, which were
Profit on disposal of trading properties 1,572 4,115 (2,543) -62% capitalized for most of Q1 2011 and additional loan facilities
0 drown down during Q2 2011 – Q1 2012 (for the acquisition of
Results from operating activities 22,065 4,379 17,686 404% 25% city share and the underground parking)
0
Finance income 9,918 16,634 (6,716) -40%
Finance costs (15,971) (3,877) (12,094) 312%
Net finance income (6,053) 12,757 (18,810) -147%
Profit before income tax 16,012 17,136 (1,124) -7%
Tax expense (8,139) (476) (7,663) 1610%
Profit for the period 7,873 16,660 (8,787) -53%
Profit attributable to: 0
Owners of the Company 7,888 16,458 (8,570) -52%
Non-controlling interests (15) 202 (217) -107%
Profit for the period 7,873 16,660 (8,787) -53%
Earnings per share
0.75 1.57 21
Basic and diluted earnings per share (cent)

22. Loans and Cash Position as of Dec 31, 2011
Gross balance of the bank loan portfolio (as of March 31, 2012) – US$ 703.6 mn
Total cash balance (as of March-31, 2012) – US$ 104.1 mn
Max debt Balance as of Principal
Lending Available Nominal Maturity
Project limit March-31, amortization Currency
bank (US$ mn) Interest rate
(US$ mn) (US$ mn) untill 31.12.2012 (dd.mm.yy)
AFIMALL (construction
VTB $288 $288 - 9.5% RUB 23.08.2013
loan)
AFIMALL 25% share
VTB $170 $170 - 9.5% RUB 23.08.2013
buyout
AFIMALL parking buyout VTB $136 $45 $91 10.78% RUB 23.08.2013
$504
(6-month LIBOR,
Tverskaya Zastava Sberbank $280 $72 - $5 USD 16.08.2014
min 1,5% + 9,5%)
Ozerkovskaya III (50%) Sberbank $37 $29 $3 13.0% $8 RUB 17.06.2015
Kalinina Hotel Sberbank $20 $16 $4 6.75% $1 RUB 20.12.2014
3-month LIBOR +
Four Winds (50%) Nordea Bank $85 $83 - $4 USD 13.07.2018
4,5%
Total/Average interest rate $704 9.28%
22

23. Balance Sheet
3/31/2012 12/31/2011 Changing
# NARRATIVE
US$ mn US$ mn US$ mn %  The company has a strong cash position presenting US$
(1) Investment property 1,452.9 1,403.6 49.3 4% 104.1 mn in Q1 2012 compared US$ 84.8 mn, which is 23%
(2) Investment property under development 1,042.0 983.6 58.4 6%
(3) Property, plant and equipment 104.3 92.0 12.3 13% higher
(4) Long-term loans receivable 0.0 0.0 0.0 29%
(5) Inventory of real estate 72.0 66.2 5.8 9%
 Trade and other payables include payables due to the City on
(6) VAT recoverable 6.2 5.4 0.8 15%
(7) Intangible assets 0.2 0.2 0.0 0% AFIMALL parking
(8) Non-current assets 2,677.6 2,551.0 126.6 5%
(9) Trading properties 10.4 11.1 -0.7 -6%
(10) Trading properties under construction 134.1 129.6 4.5 3%  The Company loans totaled US$722.4 mn compared to
(11) Inventory 1.3 0.7 0.6 94%
US$627.1 mn as at 31 December 2011. This increase of
(12) Short-term loans receivable 0.9 0.8 0.1 15%
(13) Trade and other receivables 91.8 107.2 -15.4 -14% approximately US$95 mn was due to the drawdown of the
(14) Income tax receivable 0.7 n/a n/a n/a
(15) Cash and cash equivalents 104.1 84.8 19.3 23%
first tranche of the loan by VTB Bank OJSC (for the
(16) Current assets 343.3 334.1 9.2 3% acquisition of parking space in AFIMALL City) and
(17) TOTAL ASSETS 3,020.9 2,885.1 135.8 5%
(18) Equity appreciation of the Ruble versus the US Dollar, which
(19) Share capital 1.0 1.0 0.0 0%
increased the US$ value of the Ruble denominated loans
(20) Share premium 1,763.4 1,763.4 0.0 0%
(21) Translation reserve -112.5 -178.5 66.0 -37%
(22) Retained earnings 285.4 277.5 7.9 3%
(23) Total equity attributable to owners of the Company 1,937.3 1,863.5 73.8 4%
(24) Non-controlling interest 3.8 3.9 -0.1 -2%
(25) TOTAL EQUITY 1,941.1 1,867.4 73.8 4%
(26) Liabilities
(27) Long-term loans and borrowings 620.4 528.1 92.3 17%
(28) Long-term amounts payable 38.4 71.6 -33.2 -46%
(29) Deferred tax liability 150.9 142.1 8.8 6%
(30) Deferred income 24.2 22.6 1.6 7%
(31) Non-current liabilities 834.0 764.5 69.5 9%
(32) Short-term loans and borrowings 102.0 99.0 3.0 3%
(33) Trade and other payables 143.8 154.1 -10.3 -7%
(34) Income tax payable n/a 0.2 n/a n/a
(35) Current liabilities 245.8 253.3 -7.4 -3%
(36) TOTAL LIABILITIES 1,079.8 1,017.7 62.1 6%
(37) TOTAL EQUITY AND LIABILITIES 3,020.9 2,885.1 135.8 5%
23

24. Contact Information
Registered office
AFI DEVELOPMENT PLC
25 Olympion St., Omiros & Araouzos Tower,
3035 , Limassol, Cyprus.
Tel: +357 25 340 058
Principal office of operating subsidiary
AFI RUS
16 A Berezhkovskaya Embankment, building 5,
Moscow, 121059,
Russian Federation.
Tel: +7 495 796 99 88
http://investors.afi-development.ru
24