1Q 2018 Business Overview

☑ MOSCOW EXCHANGE 1 2017: dividend payout of 89% History of dividend growth Dividend yields of MOEX and exchange peers, 2018E¹ DPS for the financial year, RUB XX% Payout ratio Interim dividend 35% CAGR of DPS '13-17 % 89% 69% 58% 7.68 7.96 7.11 55% 47% 35% 5.47 3.87 MOEX IPO 2.38 1.22 0.16 0.14 0.16 0.16 0.31 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 3.3 3.6 2.8 2.2 2.3 1.6 1.8 1.1 2.49 5T LSE Comments Dividend policy approved in September 2015 sets 55% of net profit as the minimum payout ■ In 2017 Moscow Exchange switched to more frequent dividend payments, paying out its first ever interim dividend " In April 2018 MOEX's AGM voted to pay out a dividend of RUB 7.96 per share, or 89% of 2017 net profit Sources: Bloomberg, Moscow Exchange As of 21 June 2018 Exchange Japan 12 Euronext JSE CME MOEX 6.5

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