1Q 2018 Business Overview

1Q 2018 26% Money Market Trading volumes RUB trn Trading volumes for repo with CCP MosPrime rate¹, % Repo with the CBR RUB trn, % Deposit and credit operations Repo with CCP Inter-dealer repo Share of repo with CCP in total inter-dealer repo (including GCC-repo) Repo with CCP trading volumes, RUB trin 10.3 9.5 8.9 8.3 7.5 -3.1% 114.9 8% 90.7 16% 88.8 82.7 9% 80.1 13% 10% 22% 22% 20% 19% 5% 22% 5% 15% 7% 65% 54% 68% 62% 65% 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Fee & commission income RUB mln +12.2% 1,560 1,555 1,438 1,282 1,253 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 ☑ MOSCOW EXCHANGE 1 30% 81% 76% 73% 74% 62% 231.5 176.2 +2.0% 66.7 51.0 52.0 25.0 3.7 2013 2014 2015 2016 2017 1Q 2017 1Q 2018 Comments F&C income increased 12.2% YoY thanks to a shift to higher- margin repo with CCP (including GCC repo). Trading volumes contracted 3.1% YoY due to lower volumes of repo with the Bank of Russia. The average term of on-exchange repo was 3.1 days, up from 2.8 days in 1Q 2017 and flat QoQ (4Q 2017: 3.0 days). Strength of effective fees was due to longer average term of repo and some accruals from longer-term deals. Source: Moscow Exchange operational information and Consolidated Financial Statements Overnight rate, average for the period 40

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