Investor Presentaiton

Russian assets attracting foreign investors Share of non-residents in trade volumes on the Moscow Exchange markets, % Share of non-residents in OFZ, % at the end of the period Equities market +8 p.p. 48% 48% 44% 40% Derivatives market 19% +29 p.p. 48% 47% 40% 2013 2015 2017 2018 2013 2015 2017 2018 UK, Europe and North America Foreign funds investment in Russian equities, bln USD All regions +36% 85,6 79,7 70,6 75,4 70,6 68,4 50,2 USA & Canada 41% 2013 2015 2017 1Q 2018 2Q 3Q 4Q 2018 2018 2018 ☑ MOSCOW EXCHANGE 53% 49% 2013 2015 2018 Source: Moscow Exchange, Bank of Russia ThomsonONE - at the end of the reporting period, including DRs on Russian equities UK 4% 24% 33% 24% 22% 2011 2013 2015 2017 2018 Europe (excluding UK) 33% 22% 27% 21% 21% 23% 2013 2015 2018 2013 2015 2018 XX% CAGR - Share in investment volume

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