Earnings Presentation for the year ended 31 December 2015

1 April, 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.

2

3

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

2015 vs 2014

• Sales grew 2% and reached 47.6 bln. rubles • Net Revenue increased by 9% to 30.7 bln. Rubles • Gross Profit raised by 5% to 12.7 bln. rubles • EBITDA slightly declined by 3% to 2.9 bln. rubles • EBITDA margin decreased by 1.2 pp. from 10.6% to 9.4% • 78% decline in Net Income • Net Debt to EBITDA – 2.5X and was improved from 2.8X • 10% volume decline

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 enhanced wine distribution signing several agreements with leading winyards.

• We extended Beluga line with Beluga Celebration, and bitters Beluga Hunting Herbal and Beluga Hunting Berry

• New product development and launches: Captain’s and Ussuriisky balsam families, Arkhangelskaya and Georgievskaya vodkas, The Treasure of Tiflis Georgian brandy.

4

Consolidated Revenue for 2015

28 163

30 706

0

11 000

22 000

33 000

2014 2015

Consolidated Revenue, million RUB

+9% Y-o-Y

Revenue breakdown by segments, million RUB (1)

Alc

oh

ol

(1)

Fo

od

(1)

5 722 6 900

0

4 000

8 000

2014 2015

+1% Y-o-Y

22%

78%

Alcohol

Food

Consolidated Revenue split, %

2015: 30 706 million RUB(1) 2014: 28 163 million RUB(1)

20%

80%

Alcohol

Food

o 9% Y-o-Y increase in alcohol revenue despite of 10% fall in volume

o Ongoing diversification – growth of import operations, new categories extension

o Food segment revenue was driven by Meat and Milk divisions: favorable market conditions and premiumization as well as growing effectiveness of the poultry plant

Source: IFRS financial statement for 2015

Note (1): Net of intersegment operations

22 441 23 771

0

10 000

20 000

2014 2015

+6% Y-o-Y

1 369

1 821

0

1 000

2 000

2014 2015

10 779 10 852

0

4 000

8 000

12 000

2014 2015

45,6% 12 028 12 673

0

7 000

14 000

2014 2015

42.7%

5

Consolidated Gross Profit for FY2015

Consolidated Gross Profit, million RUB

Gross Profit Gross Margin

Gross Profit breakdown by segments, million RUB (1)

Alc

oh

ol

(1)

Fo

od

(1)

Consolidated Gross Profit split, %

FY2015: 12 673 million RUB(1)

11%

89%

14%

86%

Alcohol

Food

Alcohol

Food

oMain drivers for the Consolidated Gross Profit growth were

diversification of Company’s operations, proactive pricing policy and positive dynamic in Food segment

oProfitability in Food business significantly improved in 2015 due to product premiumization in Milk and Meat divisions

Source: IFRS financial statement for FY2015

Note (1): Net of intersegment operations

+33%

+1%

41.3%

+5%

47,6%

20% 24%

FY2014: 12 028 million RUB(1)

82%

18%

6

Alcohol segment breakdown(1). Ongoing diversification.

18 336

4 105

19 447

4 324

0

7 000

14 000

21 000

Spirits Production Distribution

Alcohol segment revenue breakdown, million RUB

2014

2015

9 496

1 283

9 334

1 506

0

2 500

5 000

7 500

10 000

Spirits Production Distribution

Alcohol segment gross profit breakdown, million RUB

-2%

2014

2015

82%

18%

Spirits production

Distribution

Alcohol segment consolidated revenue split, %

2014: 22 441 million RUB 2015: 23 771 million RUB

Spirits production

Distribution

Note (1): Anaudited

+6%

+5% +17%

51.8% 48.0%

34.8% 31.3%

Key Alcohol segment drivers in 2015

oSpirits production: 6% Y-o-Y increase in revenue on the back of 10% drop in volume. Company increased prices in the beginning of 2015 - as a result the volume reduction was significantly compensated

oGross margin of the Spirits production slightly decreased (from 51.8% to 48%) mainly due to cost inflation

oDistribution: sales growth of premium imported brands such as William Grant & Sons along with new exclusive agreements to extend our premium portfolio. As a result - this sub-segment showed considerable growth

2 274 2 109

1 090

241

0

1 000

2 000

3 000

2014 2015

2 411 2 582

7 389 8 260

0

5 500

11 000

2014 2015

+7%

2 973 2 885

0

1 000

2 000

3 000

4 000

2014 2015

-3% Y-o-Y

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Consolidated EBITDA and Net Profit for FY2015

EBITDA, million RUB

EBITDA

EBITDA Margin

G&A and distribution expenses , million RUB

General & Administrative expenses Distribution expenses 10 842

9 800

Operating profit and Net Income, million RUB

o G&A expenses increased by 7% due to inflation o 12% year-on year increase in distribution expenses mainly due to inflation.

This growth was notably less than in previous periods. o Net income declined by 78% mainly due to significant growth of finance

costs including banks guarantees and credit lines

Source: IFRS financial statement for 2015

Note (1): Net of intersegment operations

10.6%

9.4%

Opertating profit

Net income

+12%

-7% Y-o-Y

-78% Y-o-Y

12%

19%

48%

33%

8

The Company’s debt structure

Debt breakdown, million RUB

5 919 6 212

8 226 7 288

YE2012 YE2013 YE2014 YE2015

Net debt (1) evolution, million RUB

43%

21%

36%

2-5 years

Less than 1 year

1-2 years

Total = 8 708 mln RUB

As of 31 December, 2014

Less than 1 year

1-2 years

2-5 years

Total = 8 449 mln RUB o Net Debt decreased due to improvement in WC management

o Average cost of borrowing grew by 3 p.p. (to 14.06% p.a.)

o Net debt/EBITDA ratio is 2.5x and was improved from 2.8X

Source: IFRS financial statement 2012-2015

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

1 663 875

3 164 2 802

4 963 5 804

5 544 5 647

YE2012 YE2013 YE2014 YE2015

Long-term debt

Short-term debt

6 679

8 449 8 708

6 626

As of 31 December, 2015

APPENDICES

9

Widening borders of BELUGA vodka exports

Improving the quality of export distribution platform by carefull selecting partners

Focus on the US super-premium vodka market

COMPANY STRATEGY

10

Focus on the core business of production, distribution and sale of spirits

Ongoing process of divesting non core assets

Balanced portfolio of brands covering all price categories

Focus on three key upper-priced brands including flagship super-premium Beluga

Expansion in growing alcohol categories

Increasing brand equity

Premiumizing own sales mix

Strong distribution platform with focus on direct sales

Better contact with final consumer through trade marketing activity

Best in class IT platform

Product portfolio

Global exports

Distribution platform

Focus on core operations

Become the dominant spirits company in Russia with a diversified portfolio of brands and products and best in class distribution platform

Trad

itio

nal

q

ual

ity

vod

ka

VEDA ICE

Gosudarev Zakaz

(Sovereign’s Order)

Hig

h-q

ual

ity

pro

du

ct

DIVERSIFIED PORTFOLIO OF NATIONAL BRANDS WITH FOCUS ON 3 KEY BRANDS

Low-middle Premium

RUR 1000 RUR 4500

Russky Lyod

(Russian Ice)

Beluga Noble

Beluga Gold line

Belenkaya (Whitish)

Myagkov

Pat

rio

tism

, V

icto

ry

Tren

dy

Vo

dka

fo

r co

ckta

ils

Han

dcr

afte

d

No

ble

vo

dka

Gas

tro

no

mic

vo

dka

Pu

re,

org

anic

vo

dka

Exclusive agreement for production and distribution

RUR 260 RUR 300 RUR 320 RUR 330 RUR 400

+10% +6% +7% +6% +4% +7% +7%

+2% +7% +10% +6% +5% +1%

Sub-premium Super-premium, Ultra-premium Middle

RUR 1300 RUR 3000

+9% +7%

+11% +1%

Beluga Transatlanti

c Racing

Beluga Allure

Vo

dka

fo

r Tr

end

sett

ers

Ari

sto

crat

ic

Well-established portfolio of brands with high awareness is serious competitive advantage on “dark market” for advertisement

Average retail price per 0.5 liter from Jan 2013

Increase in net price to distributor from Apr 16 vs Avg 15

Increase in net price to distributor from Aug 15 vs Dec 14

Brand name

Positioning

11

Vo

dka

p

ort

folio

+7%

Trad

itio

nal

, cl

assi

c, R

uss

ian

b

ran

dy

Trad

itio

nal

b

len

ded

w

his

ky

DEVELOPING PORTFOLIO OF NATIONAL BROWN SPIRITS BRANDS

Brandy

Zolotoy Rezerv

(Golden Reserve)

RUR 420

+4%

+20%

Source: Company data

Whisky

RUR 800

+6%

0

Fox&Dogs

Balsam and herbal liqueurs

Eco

, pu

re

nat

ure

RUR 610

+3%

+2%

Ussuriiskiy Balsam

Average retail price per 0.5 liter from Jan 2013

Increase in net price to distributor from Apr 16 vs Avg 15

Increase in gross price to distributor from Aug 15 vs Dec 14

Brand name

Positioning

12

+4% +4%

+14% +15%

Infusions

Dr August

0%

+12%

RUR 200-290

Nature, unique tastes

Bro

wn

sp

irit

s p

ort

folio

+3%

+1%

RUR 560

Ussuriiskiy Liqueur

RUR 470 RUR 500

Cla

ssic

Fr

ench

sty

le.

10

0%

Fre

nch

sp

irit

s

Kamennyi Lev

(Stone Lion)

Staraya Gvardia

(Old Guard)

His

tory

, R

uss

ian

vi

cto

ry

Low-middle Middle Sub-premium

Eco

, pu

re

nat

ure

Rum

+6%

+2%

RUR 360

Captain’s Rum

Vo

yage

, A

dva

ntu

res

Gin

RUR 330

+7%

+3%

Captain’s Gin

Sea

Ad

van

ture

s

SYNERGY IS #1 INDEPENDENT SPIRITS DISTRIBUTOR IN RUSSIA • Synergy distributes in Russia a comprehensive portfolio of premium international brands.

Dedicated team (Synergy Import) – more than 400 people • Key partners: William Grant & Sons, Camus, Distell, Great Valley, Ron Barcelo

13

Irish Whisky Tequila Gin

Cognac

Scotch Whisky

Armenian Brandy

Bitter Cream liquor Rum

Absinthe Sambuca Brandy Bourbon

SYNERGY’S WINE DISTRIBUTION Synergy provides the best platform for massive and qualitative wine distribution in Russia. Wine producers from France, Italy, Spain, Chile, Germany, South Africa, Argentina, Portugal. Categories: red and white still wines, sparkling wines, ports.

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South Africa

France Chile Italy

Spain

Germany

Argentina

Portugal

Tigr

off

(S

ub

-pre

miu

m)

RES

TYLI

NG

Cap

tain

’s R

um

Cap

tain

’s G

in

Focus on NPD is important marketing tool especially in terms of “dark market” for advertisement*

* Dark market – total ban for alcohol ads except points of sale

15

FOCUS ON NEW PRODUCT DEVELOPMENT. RECENT LAUNCHES

Cap

tain

’s F

amil

y

Uss

uri

(P

rem

ium

Bit

ter)

Dr.

Au

gust

infu

sio

n

fam

ily

28

SK

U’s

Be

loe

Oze

ro

(Mid

dle

)

Ark

han

gels

kaya

(S

ub

-pre

miu

m) NEW

PR

OD

UC

TS

Syli

Pri

rod

i (M

idd

le)

Rzh

ano

y K

olo

s (M

idd

le)

Vo

dka

Ge

org

ievs

kaya

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FOCUS ON NEW PRODUCT DEVELOPMENT. RECENT LAUNCHES

IN NOVEMBER COMPANY EXTENDED BELUGA FAMILY WITH TWO NEW BRANDS

Beluga Noble Jubilee Beluga Hunting (Noble Russian bitters)

The limited edition Beluga Noble Celebration is dedicated to the 115th anniversary of Mariinsk Distillery. Innovative approach: specially made golden plated bottle Unique ingredients provide vodka with mild taste The best vodka for special occasion, celebration Price positioning: super-premium, ~1700 Rub on the shelf (0,7l)

Beluga Hunting Herbal Herbal bitter Only natural ingredients: absinthe, anise, cade, oak scab, tutsan, cedar nuts, hop, cherry-tree leaves, ginger Price positioning: super-premium, ~800 Rub on the shelf (0,5l) Beluga Hunting Berries Berry bitter Only organic ingredients: cranberry, cowberry, rowanberry, cinnamon, anise, lime-tree, cade Price positioning: super-premium, ~800 Rub on the shelf (0,5l)

16

17

FOCUS ON NEW PRODUCT DEVELOPMENT. RECENT LAUNCHES

BELAYA SOVA (WHITE OWL) VODKA INNOVATIVE SNOW CRAB VODKA

Brand story: North (Polar) vodka. Pure Nature.

Innovative approach: white quartz filtration

Rare ingredients (north origin) provide vodka with unique mild taste

2 main SKU: Belaya Sova (White Owl Cristall) and Belaya Sova Moroshka (White Owl Cloudberry)

Price positioning: Low-Premium ~350-400 Rub on the shelf

Segment volume ~1,9 mln. dcl

Brand story: Absolutely new product on the market. High quality Crab vodka

Innovative approach: product from King Crab shell extract

Rare ingredients (Far East of Russia origin) provide vodka with unique unforgettable taste

2 main SKU: Snejny Krab (Snow Crab) and Snejny Krab Okhotskiy (Snow Crab with cucumber)

Price positioning: Middle ~300-320 Rub on the shelf

Segment volume ~20 mln. dcl

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FOCUS ON NEW PRODUCT DEVELOPMENT. RECENT LAUNCHES IN 2015 COMPANY INTRODUCED COMPLETELY RENEWED CAPTAIN’S FAMILY

(ORIGINAL RUSSIAN RUM&GIN )

CAPTAIN’S RUM LINE WAS RESTYLED AND EXTENDED

CAPTAIN’S GIN WAS LAUNCHED

Brand story: Sea adventure. Strong sailor.

Original bitter – rum analogue Special ingredients including

herbal and spices provide bitter with distinctive taste

3 main SKU: Captain’s Rum Gold, Captain’s Rum Silver, Captain’s Rum Strong

Price positioning: Sub-Premium (bitters), or Economy (rum and rum-analogue) ~350 Rub on the shelf

Segment volume: ~8 mln. dcl (bitters and rum)

Brand story: Sea adventure. Strong sailor.

Original gin recipe, special ingredients including rare juniper berries

Price positioning (gin): Economy ~350 Rub on the shelf

Segment volume ~0,4 mln. dcl

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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

CONTACTS