1Q 2018 Business Overview

☑ Competitive strategy 2015-2020: key pillars (2) Diversification FX Market Market penetration Strategy Protecting market share through further expansion Optimization Drivers and initiatives Sophistication Development of international clearing membership ✓ Direct access of corporates to the market ✓ Development of SMA services Standardization Money Market Protecting market share through further product development ✓ Further enhancement of the existing product portfolio - collateral management services, repo with the General collateral pool ✓ Direct access of corporates to repo with CCP in the "net creditor" mode Depository services Treasury business Steady growth via development of new services Gradual replacement of NII with F&C income IT Ongoing enhancement of IT systems Corporate actions reform Launch of the corporate information center ✓ Expansion of the repository offering ✓ Reduction of NII's contribution to revenue through implementation of the single collateral pool as a fee-based service, including single account, single limit transfer, netting, cross-margining functionality Focus on reliability of hardware Improved processes of software development and installation Initiatives to foster fintech startups that develop technologies complementary to MOEX's product offering MOSCOW EXCHANGE 17

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