1Q 2018 Business Overview

Retail clients: a growing segment of the Russian financial market Number of active retail client accounts Equities Market +2 times Derivatives Market +64% +46% +9% +60% +3% 0% 119,616 109,538 44,860 46,285 46,069 +29% 74,911 57,946 28,068 FX Market¹ +40 times +39% +68% 25,461 ~17 times 15,159 35,475 895 December December December 2013 2015 2017 June 2018 December December December June 2013 2015 2017 2018 December December December June 2013 2015 2017 2018 Recent regulatory changes: ■ Introduction of individual investment accounts for private investors since 2015: more than 366,000 accounts opened as of June 2018 ■ Tax breaks on capital gains on securities held for more than 3 years (up to RUB 9 mln for securities purchased after 1 Jan 2014) ■ Retail investors allowed to remotely open a brokerage account. This simplifies the process for retail investors in Russia's far- flung regions ☑ MOSCOW EXCHANGE 1 DMA clients 21

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