1Q 2018 Business Overview

☑ Retail money: aiming to grow the culture of investing Number of retail broker accounts as % of population² Russians hold majority of savings in banks and cash¹ 12% 13% 12% 23% 6% 42% 13% 53% 27% 50% 61% 10.9% 10.0% 51% Russians hold RUB 25 trn with banks RUB 5 trn in cash ...vs RUB 35.9 trn of the Russian equity market's market cap 37% 61% 23% 6% 69% 25% 32% 21% 59% 39% 41% 32% 24% 20% 18% 14% USA 1.4% 1.3% 0.3% China South Korea Turkey Russia Brazil UK Germany Italy Brazil Mexico China India Russia Other Securities Insurance and pension assets Cash Bank deposits Newly opened retail accounts of first-time (unique) clients thousand Individual investment accounts (IIA) as the first broker account Other broker accounts as the first broker account Net change in the number of retail accounts thousand Individual Investment Accounts Other broker accounts +95% +65% Tax incentives through Individual investment 394 +44% 252 accounts +23% 107 +94% +48% 74 -16% -32% +22% +64% 152 +36% -46% 102 106 45 86 72 22 178 59 70 107 84 2011 2012 2013 2014 2015 2016 2017 202 163 106 287 84 89 51 38 74 96 2011 2012 2013 2014 2015 2016 2017 MOSCOW EXCHANGE Sources: EIU, World Bank, IMF, central banks of South Korea, Turkey, Mexico, National Bureau of Statistics of China, Allianz, SZSE Factbook, CBR, Moscow Exchange 1 As of the end of 2016 2 Russia - 2017, South Korea, Turkey, Brazil - 2014, China - 2015 20

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