Fixed Income Market Presentation

Financial results: MOEX business model delivers again Operating income RUB bln +66% Interest and other finance income Net profit RUB bln Fee&commission and other income +99% 22.0 13.2 +73% +51% 13.3 63% 44% 6.6 7.2 11.9 6.0 9.8 10.2 5.3 6.8 7.3 3.5 4.1 49% 68% 58% 56% 37% 48% 49% 52% 51% 51% 32% 42% 1H2014 1H2015 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 1H2014 1H2015 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 Key metrics Key highlights Basic EPS, RUB F&C Income 2Q2014 2Q2015 1.58 2.70 3,522.0 4,299.1 Chg +71% +22% Net Interest and other High double digit growth in operating income driven by solid performance across both major components Efficiency ratio (CIR) improved further driven by healthy income and stringent cost control 3,219.1 5,854.3 +82% finance income ■Record 6M EBITDA and net profit EBITDA EBITDA margin Cost income ratio ☑ MOSCOW EXCHANGE 4,774.8 7,947.2 75.3% 78.1% 35.0% 26.1% +67% +2.8 p.p. -8.9 p.p. Source: Consolidated Financial Statements 24 24

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