1Q 2018 Business Overview

SETTLEMENT & DEPOSITORY CLEARING Robust post-trade infrastructure Central Counterparty (CCP) and Central Securities Depository (CSD) National Clearing Centre (NCC) proprietary funds (capital)¹ CCP cleared value based on ADTV (6M 2018) RUB bln RUB bln 61.6 56.6 58.7 57.4 FX 1,400 28.8 39.5 Repo with CCP² 917 ◉ Derivatives 342 Fixed income 13.2 Equities Commodities 44 ■ 0.5 1 Jan 1 Jan 1 Jan 2013 2014 2015 1 Jan 1 Jan 1 Jan 2016 2017 1 Jul 2018 2018 National Settlement Depository (NSD) proprietary capital³ RUB bln Assets on deposit4 RUB trn 11.3 9.4 8.8 8.9 7.8 7.3 6.0 1 Jan 2013 1 Jan 2014 1 Jan 1 Jan 1 Jan 2015 2016 2017 1 Jan 2018 1 Jul 2018 126 Comments Well-capitalized NCC acts as a CCP for all asset classes Solid risk management has ensured smooth operations amid high volatility The only qualified CCP in Russia. The status was granted by the CBR in 2013 BBB local currency rating from Fitch - one notch higher than Russia's sovereign rating - 43.0 39.4 36.4 31.7 24.9 21.8 12.3 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 30 Jun 2012 2013 2014 2015 2016 2017 2018 ■ ☐ Comments NSD is the Central Securities Depository in Russia Safekeeping and settlement services Collateral management services for repo transactions Repository for OTC trades Russian bonds and equities ■ Links to Euroclear and Clearstream for ■ AA- rating from Thomas Murray5 1 ☑ MOSCOW Source: Moscow Exchange Figures in accordance with Russian Accounting Standards as reported to and disclosed by the CBR on a monthly basis. Figures from the end of 2015 onwards include skin in the game and other deductions in accordance with the regulation of CCPs by the CBR EXCHANGE 2 Including GCC repo 3 4 Figures in accordance with Russian Accounting Standards as reported to and disclosed by the CBR on a monthly basis Assets on deposit based on Company's operational data 5 Thomas Murray is the leading global agency for depository services 8

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