Investor Presentaiton

11% Equities Market Trading volumes¹ RUB trln MICEX Index (average for the period) Equities Russian equities trading volumes², MOEX vs LSE % 44% 46% 48% 42% 45% 45% 44% 41% 45% 46% 44% 44% 46% 49% 49% XX% Velocity 36% 43% 37%) 45%) 42%) 39%) 47% 56% 54% 52% 58% 55% 55% 56% 59% 55% 54% 56% 56% 54% 51% 51% 1,441 1,429 1,492 1,422 1,403 1,432 1,457 +18% +16% 10.3 8.7 2.4 2.7 2.5 2.3 2.8 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 2015 2014 ■Moscow Exchange³ ■LSE - international order book 3 Gazprom Sberbank Magnit 2013 2014 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 Market share 2014 31% 46% 54% 53% 47% 69% Fee & commission income RUB mln +26% 1,766 1,404 +33% 452 453 464 348 397 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 Comments Despite challenges facing the market, MOEX's average market share vs LSE remained at appr. 55% in 2014. Trading in local shares vs DRs has potential to grow due to reforms to the domestic financial infrastructure ■ The market share remained above 50% in 2015, while non-resident on-exchange investment inflow reached RUB 37.3 bln (vs outflow of RUB 18.1 in 2014) Source: Moscow Exchange operational information and Consolidated Financial Statements, Liquidmetrix Volumes on both primary and secondary markets Moscow Exchange and London Stock Exchange data for Russian dual-listed companies Only electronic order book deals 23 2013 2014 ☑ MOSCOW EXCHANGE 1 2 3

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