USM Holdings is a leading global investor in companies in the digital space. Its deep understanding of the internet sector has brought a number of notable successes and global recognition for fostering, developing, and stimulating domestic and global advances in e-commerce and internet services.

USM Holdings is a major shareholder in Mail.Ru Group, as well as a prominent early investor in several high-growth businesses in the global internet and e-commerce sector.

USM Holdings recognises the expansion potential of e-commerce, social networks, online video, online gaming, mobile internet, mobile payment and online advertising. Group

Founded in 1998, Mail.Ru Group is the leading company in the fast-growing Russian-speaking internet market (according to comScore data, Russia is the largest internet market in Europe by number of users). Approximately 96% of Russian internet users visit Mail.Ru Group's sites each month and the Company ranks sixth globally in terms of the amount of time spent on its sites.

In line with its Communitainment (Communications + Entertainment) strategy, the company is continuing to rapidly build an integrated communications and entertainment platform.

Mail.Ru Group currently owns three Russian-language social networks, VKontakte, Odnoklassniki and Moi Mir:

• VKontakte is Russia’s largest social network with a monthly audience of 52.3 million users. It is the second most visited Russian-language website and fastest-growing in terms of new users among its peers.

• Odnoklassniki is one of the leading Russian social networks with a monthly audience of 40.7 million. It is a three-time winner of the Runet Prize and topped the Runet People’s Ten. The website won the Master of Brandbuilding grand prix and the “Offline Influence” grand prix, as well as the “Golden Website” prize twice.

• Moi Mir is a popular Russian social network with 24.7 million monthly users. Through active development of its own API, Moi Mir is now a leader in terms of the number of applications from Russian and international developers that it offers its users.

The company also owns two of Russia’s leading instant messengers, Mail.Ru Agent and ICQ; as well as the leading e-mail service, one of the largest Russian internet portals, and a portfolio of major online games.

In autumn 2013, Mail.Ru Group launched The start-up included mobile apps myMail, myChat and myGames.

The company holds an equity stake in Qiwi, a next generation payment services provider, and a number of small venture capital investments in various internet companies in Russia, Ukraine and Israel.

In 2010, Mail.Ru Group successfully completed an IPO on the London Stock Exchange, raising c. US$ 92 million.

Portfolio Investments

USM Holdings is a major investor in internet businesses globally, with emphasis on the high-growth areas of social networking, online gaming and e-commerce. USM Holdings has gained international prominence with stakes in some of the world’s leading and most valuable internet assets, including Facebook, Apple, Twitter, Groupon, Zynga, Spotify, Zalando, ZocDoc, Airbnb, Alibaba and

© USM Holdings 2014