Russian Financial Sector Update

Bank of Russia FINANCIAL SECTOR OVERVIEW The Central Bank of the Russian Federation SECURITIES MARKET (8) Moscow Exchange group offers the best infrastructure in its class TRADING CLEARING SETTLEMENT Source: Moscow Exchange 39 Moscow Exchange listing and electronic trading, including DMA services National Clearing Centre CCP, risk and collateral management, clearing, risk netting National Settlement Depository CSD, settlement, depository, safekeeping, repository ✓ MOEX captures the entire value chain for end- customers, offering a one-stop shop for listing, risk management, market data, multi-asset trading, clearing settlement and custody ✓ MOEX is strategically positioned to benefit from the development of Russia's capital markets in the coming years ✓ Fully vertically integrated infrastructure with regulation and oversight by the Bank of Russia ✓ Eligible collateral to trade any asset class ✓ Foreign investors have DMA and ICM services at their disposal

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